The declaration of a state of national energy emergency has handed Philippine authorities a new tool to intervene directly in pump prices — an authority that was previously blocked by law.
Energy Secretary Sharon Garin confirmed Monday that the executive order signed by President Ferdinand Marcos Jr. has expanded the government’s power to set ceilings on fuel price adjustments or mandate minimum rollbacks at the pump.
“So that’s our new rule now. That’s because of the issuance of the executive order, which triggered the additional powers of government to prescribe the price during these times of emergency,” Garin told reporters during a media briefing.
Before the emergency declaration, such intervention was legally off the table. The Oil Deregulation Law gives oil companies the right to set their own prices, a provision Garin herself had previously cited as a constraint on government action.
The policy shift comes as global oil markets remain unsettled by the ongoing conflict in the Middle East, which has driven up fuel costs for Filipino consumers since hostilities broke out on Feb. 28. Diesel prices have felt the sharpest pressure.
Some easing followed a ceasefire announcement between the United States and Iran, prompting oil firms to implement significant rollbacks. For the current week, companies are required to slash diesel prices by at least P24.94 per liter, gasoline by P3.41, and kerosene by P2.
