A business leader in Negros Occidental has urged the Department of Energy (DOE) to encourage major oil companies to trim their margins, following the example of Petro Gazz, to help ease the burden on consumers amid rising fuel prices.
Frank Carbon, executive officer of the Metro Bacolod Chamber of Commerce and Industry (MBCCI), told Brigada News FM Kabankalan on Wednesday, March 25, that if some industry players can reduce margins to cushion consumers, larger oil firms should be able to do the same.
“If some companies can give up part of their margins to help ease the burden on Filipinos, others can follow,” Carbon said.
In Kabankalan, Petro Gazz currently sells diesel at around P94 per liter and gasoline at P75.51 to P76.50. In contrast, other oil companies charge nearly P100 per liter for gasoline and over P130 per liter for diesel.
While in some Petro Gazz stations across the province, prices may vary by about P1—either lower or higher than Kabankalan rates—but remain generally cheaper compared to major oil firms.
The call comes as businesses continue to face mounting operational costs driven by higher fuel prices.
Carbon said expenses have surged, particularly for transportation and manufacturing operations that rely heavily on fuel and oil. He added that the impact is expected to ripple across other sectors, including utilities and property costs.
“The increase in fuel and oil will eventually translate to higher electricity and water costs, as well as rental, as building owners pass on their operating expenses to tenants,” he said.
Amid the rising costs, Carbon urged businesses to adopt austerity measures while avoiding layoffs, stressing that closures and job losses should be the last resort.
“Our advice is to stay afloat as much as possible. Business closures and layoffs should be the last resort,” he said.
He also emphasized the importance of sustaining purchasing power to keep the economy moving.
“We want money velocity or purchasing power to continue to keep the economy going,” he added.
Government scrambles
The appeal comes as the government moves to secure fuel supplies amid a surge in global oil prices driven by tensions in the Middle East.
Energy Secretary Sharon Garin said on Tuesday, March 24, that the government is preparing up to P20 billion to build a diesel buffer stock aimed at cushioning supply disruptions and stabilizing the market.
The Philippine National Oil Company (PNOC) plans to procure up to two million barrels of diesel, equivalent to roughly 10 days of additional supply.
The DOE expect fuel prices to surge this week, with diesel projected to reach as high as P144.20 per liter following increases of P15 to P18 per liter.
Gasoline prices may rise by P8 to P12 per liter, while kerosene could climb by as much as P22 per liter to P165.79 per liter.
Profits under spotlight
Meanwhile, Petron Corp., the country’s only oil refiner led by billionaire Ramon Ang, reported a record profit of P15.6 billion in 2025—an 84% increase from P8.5 billion the previous year—driven by strong sales volumes and improved cost and capital management.
The contrasting developments have intensified calls for both government intervention and industry cooperation to cushion the impact of rising fuel prices on consumers and businesses alike.*
Reymund Titong is a Filipino journalist steadily building his voice in the field of news reporting, driven by a commitment to tell meaningful and relevant stories.
He serves as a correspondent for Rappler, maintains a personal blog on Medium, and is the communications officer of Hope Builders Organization Negros Island.