Fuel hoarders warned

The Department of Energy (DOE) has launched an investigation into alleged hoarding of petroleum products amid rising supply concerns triggered by the conflict in the Middle East.

In a statement Thursday, the agency said reports from its field offices in Luzon and Mindanao indicated irregularities in fuel supply and retail prices.

The DOE warned that individuals found violating Republic Act No. 7581, also known as the Price Act, could face fines, imprisonment and forfeiture of petroleum products.

“We will not tolerate any attempt to take advantage of the current situation at the expense of Filipino consumers,” Energy Secretary Sharon Garin said in a news release.

Garin said the investigation forms part of a broader government response under the directive of President Ferdinand Marcos Jr. to ensure stable fuel supply and protect consumers.

According to the DOE chief, authorities are implementing a whole-of-government approach “to protect the public and maintain orderly fuel supply and distribution.”

The agency also urged the public to report illegal activities that could undermine the country’s energy supply and market stability.