The Department of Energy (DOE) reaffirmed its commitment to protecting Filipino consumers by implementing rigorous monitoring of the domestic oil industry. This proactive stance aims to prevent illegal activities, such as hoarding and profiteering, amid ongoing global supply disruptions caused by geopolitical tensions in the Middle East.
During a briefing at Malacañang, Energy Secretary Sharon Garin assured the public that the agency is working tirelessly to maintain market stability. “The DOE is closely watching our gas stations and oil companies to ensure there is no hoarding or profiteering,” Garin stated.
In accordance with Executive Order No. 110 issued by President Ferdinand R. Marcos Jr., the DOE has deployed several directives to strengthen its oversight capabilities:
Special Operating Guidelines: Deputized agencies are conducting coordinated field inspections to verify fuel quality, ensure fair pricing, and maintain uninterrupted distribution.
Anti-Hoarding Protocols: Strict measures have been implemented to safeguard the national fuel supply and prevent artificial shortages.
Weekly Compliance Reporting: Oil companies are now required to submit detailed weekly reports to the DOE, justifying any price adjustments.
Secretary Garin highlighted the success of collaborative enforcement, noting that partnerships with the Philippine National Police (PNP) have led to a noticeable decline in profiteering cases and a more stable supply across retail outlets.
Furthermore, the DOE is working in tandem with the Philippine Competition Commission (PCC) to scrutinize the behavior of market players.
“We have coordinated with the PCC to check for potential cartelization or violations of rules on profiteering,” Garin added. “While we are not declaring any party guilty at this stage, it is vital to have these safeguards in place. The DOE, the PCC, and our enforcement agencies are here to ensure that these practices do not happen.”
The DOE continues to urge the public to remain vigilant and report any suspicious activities at gas stations to help maintain a fair and transparent energy market.
