MANILA — Senate President Pro Tempore and Blue Ribbon Committee Chair Panfilo Lacson dismissed the analogy made by Senator Rodante Marcoleta comparing oil companies’ profits amid rising fuel prices to alleged cash deliveries by former soldiers to government officials.

“With due respect to my colleague, his analogy is akin to comparing coconut with ampalaya. Why? The payments for the daily gross income of the oil companies, even assuming his figures were correct, are being done through bank transfers, never in maletas. Their 18 ‘ex-marines’ were delivering in cold cash as claimed in their joint affidavit,” Lacson said.

Marcoleta had raised the comparison during the first Senate inquiry into the government’s response to the impact of the war in West Asia. He pointed to alleged former soldiers who reportedly delivered cash to officials of former congressman Zaldy Co, contrasting it with oil firms selling pre-war fuel at premium prices.

Marcoleta cited data he said reflected the oil companies’ daily gross income:

“714,318,000 liters of gasoline times 30 days. That is P714 million per day, approximate gross income… On diesel, 2,324,812,000 plus 714,318,000. The gross income per day is 3,039,130,000 per day. P3 billion, Mr. Chair. Eh kinuha n’yo po ito sa inventory n’yo. It’s only been two weeks.”

He further calculated the alleged ex-Marines’ deliveries at roughly P2 billion per day, averaging 42.5 maletas over 33 months, with each maleta containing about P40 million. He added, “I’m not saying that that is correct. That is yet to be investigated properly and in proper time… But this, P3 billion pesos per day, the gross income of the national oil company. These are not my figures.”

Oil company representatives explained the pricing strategy.

Pongtorn Tangmanuswong said the use of replacement costing is standard practice for commodity products globally: “If I sell at 100, which is the acquisition cost of last week, will I have the cash flow to buy the inventory in order to continue the business? I may not.”

Lubin Nepomuceno emphasized that pricing decisions must remain competitive to allow dealers to continue operating profitably: “We need to position ourselves to be able to sell the products. We are mindful of the requirements of our dealers so that they have a payback for whatever investment they had put into a service station.”