₱1 Rollback Too Small? Valeriano Speaks Out on Fuel Prices
ROLANDO VALERIANO – The Manila representative criticized oil companies over what he described as an unfair fuel price rollback, calling it misleading and unfavorable to consumers.
He pointed out that while fuel prices had increased significantly in recent weeks—rising by around ₱15 to ₱18—companies only announced a minimal ₱1 rollback, which he said does not provide real relief to the public. He expressed concern that this pattern makes it seem like consumers are being taken advantage of, as the reduction is too small compared to the previous increases.
“Pero ang tingnan niyo pong maigi, ‘yung presyo ng gasolina rito sa atin sa Pilipinas. Napansin niyo na kung tumaas sa atin, P15, P18,” he said. “Pero ngayon, nag-announce na ang oil company, by next week, merong rollback. At may utang na loob tayo sa kanila kasi magbababa sila ng piso sa langis. Imagine, para ho tayong niloloko nitong mga oil company na ‘to,” he added.
Valeriano emphasized that the sharp rise in fuel prices was partly driven by ongoing tensions in the Middle East, which have affected global oil supply and pricing. However, he argued that the local impact in the Philippines appears excessive. Citing data shared by Antonio Tinio, he noted that the country ranked second worldwide in terms of fuel price increases, reaching as high as 71.6 percent based on global monitoring data. According to Valeriano, this suggests that local prices may have risen more than necessary.
He further stated that if oil companies were not taking advantage of the situation, fuel prices in the country could have been lower. He raised concerns about possible coordinated actions among oil firms, suggesting that they may be operating like a cartel. Because of this, he expressed his intention to push for greater transparency by examining the financial records of these companies to better understand how fuel prices are being determined.