Senior Deputy Minority Leader Rep. Leila de Lima on Tuesday criticized Malacañang’s position that Congress should take the lead in studying oil deregulation, urging the Executive to take a more proactive role amid rising fuel costs.
“Amid these trying times, Malacañang should not just depend on Congress in pursuing crucial measures that could ease the burden of our countrymen,” de Lima said in a message to Manila Standard.
Presidential Communications Office Undersecretary Claire Castro had said lawmakers are in the best position to determine whether changes to the Oil Deregulation Law are needed to address volatility in global oil markets.
De Lima, in reply, said President Ferdinand Marcos Jr. could direct key agencies—including the Department of Economy, Planning and Development (DepDev), Department of Energy (DOE), and Department of Trade and Industry (DTI)—to assess the potential impact of repealing the oil deregulation law on the economy and vulnerable sectors.
“At the very least, the President could instruct… relevant agencies to study the impact of repealing the oil deregulation law on our economy and on the plight of vulnerable sectors,” she added.
De Lima also suggested including the measure among the Legislative-Executive Development Advisory Council’s priority bills and certifying it as urgent, like the recently approved authority allowing the President to suspend excise taxes on fuel products.
“Nasa posisyon ang Ehekutibo para pag-aralan din ito. Hindi pwedeng iasa lang ito sa Kongreso. Pagtulungan dapat ito (the Executive is in a position to study this as well. It cannot be left to Congress alone. It should be a collaboration),” she stressed.
Senate President Vicente Sotto III on Tuesday filed a bill seeking the full repeal of Republic Act 8479, or the Oil Deregulation Law, to restore government control over fuel pricing.
“Since 1998, I did not vote for the passing of the Oil Deregulation Law and in 2022, I pushed for the review of this particular law,” Sotto said.
The proposed measure aims to return to a system where the government regulates petroleum prices, akin to the pre-deregulation setup when the Energy Regulatory Board set prices based on global oil costs and the peso-dollar exchange rate, with the Oil Price Stabilization Fund cushioning price swings.
Sotto said the current geopolitical tensions in the Middle East highlight the need for stronger state oversight to ensure transparency and consistency in fuel pricing.
“RA 8479 liberalized and deregulated the downstream oil industry… It allowed local oil players to adjust prices of gasoline, diesel, and kerosene every week,” he said.
“It is high time to give back to the state the authority to manage fuel prices,” he added.
