Cagayan de Oro City — The People’s Constitutional Reform Initiative, led by Manny Lopez, is urging the government to impose a temporary oil price freeze to curb excessive increases and prevent speculative profiteering by fuel companies.
In an interview with Bombo Radyo, Lopez argued that it is unfair to raise pump prices while oil firms are still selling fuel from inventories purchased 30 days ago. He called on the Department of Energy (DOE) to issue an administrative order enforcing a 15-day price freeze, noting that current retail stocks of gasoline and diesel are sufficient for the next two weeks.
Lopez stressed that government action should prioritize protecting ordinary consumers rather than boosting corporate profits. He emphasized that the freeze would provide immediate relief to households already burdened by rising fuel costs and the ripple effect on basic commodities.
