Amid the sudden spike in oil prices due to the war in the Middle East, the Department of Energy (DOE) said it is now also investigating the alleged closure of gasoline stations in Eastern Visayas.
According to DOE officials, Philippine National Police (PNP) personnel have reported at least 23 gas stations in the region allegedly temporarily ceasing operations due to “insufficient” fuel supply.
However, authorities emphasized that these reports are still subject to validation to determine the actual causes of the shutdowns.
Engr. Rey Maleza, chief of the DOE Visayas Field Office’s Oil Industry Management Division, told officials of the Eastern Visayas Regional Disaster Risk Reduction and Management Council (RDRRMC) during its meeting that their agency is looking into multiple factors, including alleged hoarding, profiteering, and possible supply chain disruptions.
His statement comes amid accusations that some unscrupulous individuals have been taking advantage of the situation by buying gasoline products by the bulk before the “big-time” oil price hike last March 10.
“DOE needs to verify, as there are reports of alleged hoarding and profiteering. But we are also looking at the possibility of actual supply shortages,” Maleza said.
He explained that some fuel retailers may have opted for a temporary halt of operations due to economic pressures, particularly the inability to procure fuel at prices that would still allow them to earn amid consecutive price increases in recent weeks.
“We need to determine whether the shutdowns were justified or indicative of anti-competitive practices,” he added, stressing the importance of distinguishing between legitimate business decisions and potential violations of industry regulations.
As part of its response, the DOE is working closely with law enforcement agencies and local government units to conduct inspections of gasoline stations, verify fuel inventory levels, and ensure compliance with pricing guidelines and supply regulations.
The RDRRMC, meanwhile, is also consolidating field reports to assess whether the closures were driven by operational constraints—such as delayed fuel deliveries—or deliberate withholding of supply to take advantage of rising prices.
(With report from PNA)
#WeTakeAStand #OpinYon #OpinYonNews