House Bill (HB) No. 8781 seeks to impose civil penalties of up to P10 million on energy-producing companies that implement unreasonable price increases on crude oil and refined petroleum products.
The measure, read in plenary on May 4 and referred to the House Committee on Energy, establishes a mechanism to penalize unjustified fuel price adjustments.
Each unreasonable increase would carry a fine of not less than P5 million and not more than P10 million.
The bill, filed by Manila Teachers Party-list Rep. Ma. Nina Francesca Lacson, cites global energy disruptions—particularly the conflict between Israel and Iran and its impact on oil production and shipping routes—as a backdrop for the need to protect Filipino consumers.
It notes that sudden fuel price hikes directly affect transportation fares, food prices, electricity costs, and inflation.
Section 4 directs the Department of Energy (DOE), in coordination with the Department of Trade and Industry (DTI), to issue regulations within three weeks of enactment.
These rules would prohibit unreasonable price increases and apply to all crude oil, residual fuel oil, and refined petroleum products sold in the Philippines.
The measure defines “energy-producing companies” broadly, covering ownership, exploration, extraction, refining, storage, and distribution of fuel and energy resources.
An “unreasonable price increase” is described as any adjustment exceeding concurrent increases in production or operational costs.
To ensure compliance, HB 8781 requires the DOE and DTI to conduct bi-annual reviews and establish a weekly monitoring system for fuel prices nationwide. (Ellson Quismorio)
