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Josiah Antonio - The Philippine Star
April 23, 2026 | 12:00am
At the current rate in the world market, Manibela chairperson Mar Valbuena said fuel prices should be ranging from P70 to P75 per liter.
STAR / File
MANILA, Philippines — The transport strike entered its fourth week as drivers’ groups intensified calls for a rollback in fuel prices.
At the current rate in the world market, Manibela chairperson Mar Valbuena said fuel prices should be ranging from P70 to P75 per liter.
Piston national president Mody Floranda echoed the sentiment, pointing out that fuel being sold in the local market had been purchased at cheaper prices, implying that current pump prices are “overpriced.”
“We have 50 to 60 days of supply so what is the reason for them to increase the prices on fuel,” Floranda said.
Despite the Department of Energy (DOE)’s move to impose minimum rollbacks and maximum price increases, Valbuena and Floranda said the measure came too late.
Refund consumers
Sen. Rodante Marcoleta called on the government to compel oil companies to refund consumers if investigations prove that firms manipulated fuel pricing to generate windfall profits.
Marcoleta stood by his earlier estimate that petroleum companies are earning up to P3 billion daily by prematurely applying “replacement costs” to existing inventories.
He pointed out that neither the oil players nor the DOE have disputed his figures.
“If it is not true that they are earning P3 billion every day, why have they not objected? Silence is acquiescence. Silence is admission,” Marcoleta said during the Kapihan sa Manila Hotel forum. – Neil Jayson Servallos
