Philippine Senator Sherwin Gatchalian has urged the Department of Energy (DOE) and the Department of Trade and Industry (DTI) to impose a price cap on liquefied petroleum gas (LPG) in response to expected price hikes linked to the ongoing Middle East conflict, according to the Philippine Daily Inquirer. Gatchalian warned that rising LPG costs could adversely affect consumers and called for immediate government action to protect fuel users.
During a Senate Protect committee hearing, Gatchalian highlighted concerns over unscrupulous traders taking advantage of the situation, reaping windfall profits from soaring oil prices, as reported by the same source. He cautioned against profiteering and hoarding amid the geopolitical tensions driving global fuel price increases.
In addition to price control measures, Gatchalian urged DOE officials to remain vigilant by continuously seeking alternative oil suppliers to avoid an energy crisis in the Philippines. The senator’s recommendation was made during the Senate’s ad hoc committee hearing on the Middle East tensions, stressing the need for proactive steps to ensure national energy security.
Gatchalian also recommended pursuing government-to-government deals to secure the country's oil supply, noting that the Philippines currently has only 53 days’ worth of gasoline and 46 days of other fuel stocks available. This limited reserve heightens the urgency for stable and reliable fuel imports amid global uncertainty.
Going forward, attention will focus on how the DOE and DTI respond to the senator’s calls for price caps and diversified oil sourcing, as well as the effectiveness of proposed government-to-government agreements in stabilizing the country’s fuel supply and prices during escalating international tensions.
Sherwin Gatchalian
Department of Trade and Industry
Department of Energy
Philippines
Middle East
