Quimbo Wants to Kill the Oil Deregulation Law — 'Walang Ngipin ang Gobyerno' to Stop Price Hikes
With fuel prices spiraling out of control thanks to the Middle East conflict, House Committee on Ways and Means Chairman Miro Quimbo is pushing hard to review the 28-year-old Oil Deregulation Law — and he's not mincing words about why the government is helpless right now.
During a DOE briefing with the ways and means panel on March 10, agency officials admitted — again — that Republic Act 8479, the Downstream Industry Deregulation Act of 1998, literally prevents them from controlling fuel price spikes. "It's a deregulated industry, we do not have the powers to regulate the price," Energy Secretary Sharon Garin told the committee. "We monitor, they report, they justify, but DOE does not have teeth."
Quimbo called out the system for being toothless. He pointed out that even the so-called "staggered" fuel price increases are just informal arrangements between the DOE and oil companies — walang legal enforcement. If an oil firm decides to ignore the deal? Wala silang magagawa. "Pwede nilang hindi sundin 'yan, tama?" Quimbo asked. The answer? Basically, yes.
The timing is critical. Garin revealed that oil companies were poised to hike pump prices by a jaw-dropping ₱17 to ₱24 per liter this week alone. While companies have agreed to implement increases on a staggered basis, there's nothing in the law that forces them to comply. House Majority Leader Sandro Marcos already tagged the proposed amendments to RA 8479 as a LEDAC priority measure.
The Makabayan bloc has also jumped in, calling the crisis proof that oil deregulation has "failed." With diesel already spiking ₱18 and gas ₱15 from earlier this week, ordinary Filipinos are bearing the brunt. Whether Congress can actually amend the law fast enough to make a difference remains to be seen — but the political will seems to be building.
Source: Manila Bulletin
