MARCH 31, 2026 — Fuel prices are running wild, and Senator Bam Aquino says it’s time to put them on a leash. His newly filed Senate Bill No. 2011 aims to classify gasoline, diesel, and other petroleum products as basic necessities—a move that would finally put them under government price control.

Right now, only LPG and kerosene are covered by the Price Act (RA 7581). Aquino wants to expand that list, giving the government power to slap a price ceiling on fuel during national emergencies. And not just for a quick fix—the bill extends the control period from 15 days to 30 days, doubling the window for intervention.

Aquino minced no words: “The Philippines is in the midst of a fuel price crisis, and Filipino families are feeling the strain. Rising diesel and gasoline prices have pushed up transportation costs, food prices, and the cost of basic goods.”

the VAT bombshell

But Aquino isn’t stopping at price control. He’s also gunning for the suspension—or outright removal—of the 12% VAT on fuel products. His math is blunt: with diesel at ₱124 per liter, scrapping VAT and excise tax could slash nearly ₱20 off every liter.

“This will be a big help to Filipinos,” he said, stressing that VAT relief would hit harder than excise tax cuts. For jeepney drivers, delivery riders, and small businesses, that’s not just savings—it’s survival.

why it matters

Every Filipino knows fuel hikes don’t stay at the pump. They creep into jeepney fares, inflate food prices, and jack up the cost of basic goods. Aquino’s bill is pitched as a lifeline for workers, farmers, and households already stretched thin.

But here’s the catch: government price control sounds good on paper, yet it raises tough questions. Can the state really keep fuel prices in check without distorting the market? Will oil companies push back? And will ordinary Filipinos actually feel the relief, or will bureaucracy eat up the promise?

the bigger fight

This isn’t just about economics—it’s about political will. Aquino’s move taps into public frustration over global oil shocks and local tax burdens. It’s populist, sure, but it’s also a test: can the government step in when the market fails its people?

The debate is bound to get heated. Some will argue deregulation keeps the industry competitive. Others will insist intervention is the only way to shield the poor from relentless price hikes.

So the real question is: will Bam Aquino’s bill finally put fuel prices under control, or will it just fuel another political firestorm?

So here’s the question: will putting fuel under government price control finally ease the burden on Filipino families, or will it just ignite another political firestorm?

(Image: Senate of the Philippines)