By Robert B. Roque, Jr.
The war in the Middle East may be out of Manila’s hands, but what happens at the gas stations here is not.
Motorists woke up on Tuesday to a painful reality: local oil firms began imposing fuel price hikes ranging from ₱17 to ₱24 per liter. Those who commute were surprised that the prices of Grab, Joyride, InDrive, and other TNVS services had nearly doubled during rush hour.
According to the Department of Energy, the increases will be implemented through staggered adjustments between March 10 and 16 to mitigate the impact. Yet, however “soft” the government wants it to be, these price hikes hit hard as a bat in the face.
The numbers alone are staggering. A ₱20 increase in diesel does not just burn a hole in the pocket — it is an economic earthquake. Fuel sits at the heart of the entire supply chain. When transport costs rise, the price of vegetables from the provinces rises. Delivery trucks charge more, and I believe truckers have already increased operational costs by 30 percent.
If they haven’t as of this writing, grocery shelves will reflect the difference soon enough. In the end, it is the Filipino household that absorbs the shock.
That much is unavoidable. The Philippines imports roughly 80 to 85 percent of its fuel. As former energy secretary Jericho Petilla bluntly describes it, the country is a “price-taker.” Global oil shocks inevitably dictate how hard a hit we take, and we have no choice.
But here is the part we can control: opportunism.
Even before the official adjustments take effect, the DOE has already issued show-cause orders against 54 gasoline stations nationwide suspected of hoarding supply or prematurely raising pump prices.
One station allegedly raised diesel by more than 54 percent overnight. Another reportedly increased prices by more than 40 percent ahead of the scheduled adjustment. That is not market volatility. That is price manipulation.
Gas stations in the provinces report that their supplies are dry. The DOE has to check that. Energy Secretary Sharon Garin has said the country has enough fuel supply for about eight weeks and warned that stations refusing to sell while waiting for higher prices are violating government directives.
The response must, therefore, be decisive.
The DOE should not simply monitor these stations — it should revoke the operating permits of those proven to have exploited the situation and pursue administrative or criminal cases where warranted. Naming violators publicly would also send a strong signal that profiteering during a national crisis will not be tolerated.
The Philippine National Police (PNP) has already been ordered to assist in monitoring roughly 14,000 gasoline stations nationwide and to check warehouses for hoarding. That is a good start.
As for the President, well, Bongbong Marcos has to act speedily and decisively. Let him secure emergency powers from Congress to temporarily reduce excise taxes on petroleum products. Hopefully, that will cushion the blow where it can.
But policy relief alone will not restore public trust. Transparency is just as essential. Consumers deserve to understand how pump prices are determined — and whether increases truly reflect global conditions or simply opportunism by companies that control the supply.
In a volatile world, global oil prices may rise beyond our control. Greed at the pump should not.
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