MANILA(March 9) — Rising fuel prices tied to global oil market tensions have triggered panic buying in some gasoline stations, prompting government warnings against hoarding and renewed pressure for emergency economic relief.
The Department of Energy assured the public that fuel supply remains sufficient despite reports of daily price increases in several areas.
Energy Secretary Sharon Garin said there is no reason for panic buying, adding that authorities are intensifying monitoring of gasoline stations to prevent profiteering and premature price adjustments.
Inspections are being coordinated with the Department of the Interior and Local Government and the Philippine National Police following reports of alleged stockpiling and early pump price increases.
Subsidy push for transport workers
Lawmakers renewed calls for immediate government assistance as higher fuel prices continue to strain public transport operators and workers.
Sen. Sherwin Gatchalian urged the executive branch to tap the P12-billion contingency fund of President Ferdinand Marcos Jr. to provide emergency fuel subsidies for public utility drivers, farmers, and fisherfolk.
Gatchalian warned that waiting for global oil prices to reach the usual subsidy trigger of around $80 per barrel could delay assistance to workers already coping with higher transportation costs.
Public transport fares have remained largely unchanged despite rising operating expenses, forcing drivers to absorb the impact of fuel inflation.
Makabayan bloc criticizes oil policy
Progressive lawmakers under the Koalisyong Makabayan said the government’s response to the oil price surge remains inadequate.
France Castro argued that the country’s dependence on imported petroleum has exposed consumers to repeated global price shocks.
She criticized the Oil Deregulation Law, claiming that the policy has allowed large oil companies to dominate market pricing.
“Instead of ensuring genuine competition that would lower fuel costs, the government has allowed market forces to work in favor of oil firms while consumers shoulder the burden of price increases,” Castro said.
The bloc also questioned proposals for emergency tax suspensions on fuel, warning that such measures may not provide long-term protection for consumers.
Calls for stricter enforcement
Manila 2nd District Representative Rolando Valeriano urged authorities to arrest individuals and establishments involved in fuel hoarding and profiteering, citing social media posts allegedly showing stockpiling activities at certain gas stations.
Vice President Sara Duterte likewise called for regular inspections, stricter penalties against price gouging, and possible emergency interventions such as targeted cash transfers, temporary commodity price controls, and improved transport and food distribution efficiency.
Economic risks
Economists warn that sustained oil price volatility could threaten the Philippines’ 5–6 percent growth target, as transportation and production costs are expected to drive inflationary pressure on food and consumer goods.
The Philippines remains highly dependent on imported fuel, making the economy particularly vulnerable to geopolitical disruptions in global energy markets.
