Senate to look into collusion among oil playersMANILA, Philippines — A Senate committee formed exclusively to help thresh out ways for the country to weather through the raging oil crisis is set to open to an investigation into possible collusion among oil players to jack up prices right at the onset of the Middle East war. “It’s good that there is formal declaration that there is cartel-like behavior or possible collusion,” Gatchalian said in Filipino. An indicator of cartel behavior is simultaneous increases in oil prices, and at almost the same level, Gatchalian said. “You know, section 14(e) of the Oil Deregulation Law authorizes the DOE to temporarily take over direct operations of oil companies during a declared national emergency,” Ejercito told radio dwIZ. Because of this, he said it may be time to review or amend the Oil Deregulation Law.

Source: Philippine Star April 12, 2026 12:13 UTC