Oil companies are now required to comply with government-set limits on fuel price adjustments under the state of national energy emergency, Energy Secretary Sharon Garin said.
The policy follows the declaration of a national energy emergency by Ferdinand Marcos Jr. through Executive Order No. 110, which grants the government additional powers over fuel pricing.
Garin clarified that the government is not capping pump prices themselves but is setting limits on how much prices can increase or decrease.
“We don’t cap the price itself, but we cap the adjustments,” she said.
Under the policy, oil firms must implement at least the minimum rollback set by the Department of Energy and cannot go below it.
“For example, if the rollback is ₱24.94, it should be equal or more than that… it cannot be lower,” Garin said.
For price increases, companies are not allowed to exceed the maximum adjustment prescribed by the government.
The directive comes as several oil firms announced significant price cuts, including a ₱24.94 per liter rollback for diesel, ₱3.41 for gasoline, and ₱2.00 for kerosene.
The Department of Energy said all companies are expected to follow the mandated adjustments as part of efforts to protect consumers amid volatile global oil prices.
