MANILA — Senator Erwin Tulfo renewed his appeal to expedite Senate Bill No. 641, a proposed measure seeking to amend the Oil Deregulation Law (Republic Act 8479) to promote greater transparency in fuel pricing.

The bill, which Tulfo co-authored with Senator Sherwin Gatchalian, aims to authorize the Department of Energy (DOE) to require oil companies to disclose the actual costs of imported petroleum products.

In a privilege speech, Tulfo emphasized that the proposal does not seek to overturn the existing deregulation policy.

“This measure, Mr. President, does not seek to dismantle deregulation per se, nor to interfere with legitimate business operations,” he said.

“It aims to bolster accountability through enhanced transparency on the pricing scheme of petroleum products in the country,” the Senator added.

Tulfo cited growing public concern over fluctuating fuel prices, particularly during global disruptions such as the ongoing tensions in the Middle East. He raised questions about the apparent disconnect between international price movements and local pump price adjustments.

“We witness consecutive price hikes in gasoline stations but Filipinos are left in the dark as to how these stations came up with the pricing,” he said.

“When global prices drop, why are local rollbacks so minimal? Are these price adjustments truly reflective of global market trends? Or this is an artificial jacked-up prices to gain more income?” Sen. Erwin further asked.

Tulfo, who chairs the Senate Foreign Relations Committee, described the proposed legislation as a “concrete step” toward addressing what he characterized as questionable oil price increases.

He also assured industry players that the measure contains provisions to safeguard sensitive business information, saying that “confidential and proprietary information will be protected.”

In closing, Tulfo urged lawmakers to support the bill, framing it as a necessary reform in the oil industry.

“This is a step toward restoring balance—between free enterprise and public accountability, between profit and protection, and between deregulation and responsible governance,” he said.