Further Amending Secs. 3(1) & 6 of R.A. No. 7581 (Price Act)

Senate Ditice of the Sercretary TWENTIETH CONGRESS OF THE ) REPUBLIC OF THE PHILIPPINES First Regular Session MAR 24 P5:54 SENATE 2011 S. No. - RECEIVED BY: Introduced by Senator Bam Aquino AN ACT AMENDING REPUBLIC ACT NO. 7581, AS AMENDED, OTHERWISE KNOWN AS THE "PRICE ACT," AND FOR OTHER PURPOSES EXPLANATORY NOTE 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. Across the country, workers, small business owners, farmers, and ordinary households are struggling to make ends meet. Republic Act No. 7581, or the "Price Act," was enacted to protect consumers during times of crisis. Yet in its current form, it contains a critical gap: gasoline and diesel, despite being a key driver of rising prices, are not effectively covered by price control mechanisms due to their deregulated status. This bill seeks to address that gap by explicitly including gasoline, diesel, and other petroleum products among the basic necessities that may be subjected to a price ceiling during periods of national emergency. It also extends the allowable period for price control on these products from fifteen (15) days to thirty (30) days, to ensure that government responses remain effective in the face of sustained price increases. This proposal complements broader efforts to deliver targeted assistance, support workers and small businesses, and ensure the continuity of essential services during this period of uncertainty. At a time when Filipino families are struggling, government must be ready to act quickly, effectively, and in the public interest. With the right tools and the collective will to act, we can protect our people and move forward together.

In view of the foregoing, the passage of this bill is earnestly sought. Bam Qquino

Denate Office of the Secretary TWENTIETH CONGRESS OF THE ) REPUBLIC OF THE PHILIPPINES First Regular Session MAR 24 P5:54 SENATE 2011 RECEIVED BY: S. No. Introduced by Senator Bam Aquino AN ACT AMENDING REPUBLIC ACT NO. 7581, AS AMENDED, OTHERWISE KNOWN AS THE "PRICE ACT" AND FOR OTHER PURPOSES Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1. Section 3(1) of Republic Act No. 7581, otherwise known as the "Price

2 Act", as amended by Republic Act No. 10623, is hereby further amended to read as 3 follows: "Section 3. Definition of Terms. - For purposes of this Act, the term: "(1) 'Basic necessities' are goods vital to the needs of consumers for their sustenance and existence in times of any of the cases provided under Section 6 or 7 of this Act such as, but not limited to, rice, corn, root crops, bread; fresh, dried or canned fish and other marine products; fresh pork, beef and poultry meat; fresh eggs; potable water in bottles and containers; fresh and processed milk; fresh vegetables and fruits; locally manufactured instant noodles; coffee; sugar; cooking oil; salt; laundry soap and detergents; firewood; charcoal; household liquefied petroleum gas (LPG) [and], kerosene, GASOLINE, DIESEL AND OTHER PETROLEUM PRODUCTS; candles; drugs classified as essential by the Department of Health and such other goods as may be included under Section 4 of this Act;"

XXX

Sec. 2. Section 6 of Republic Act No. 7581 otherwise known as the "Price Act",

as amended by Republic Act No. 10623, is hereby further amended to read as follows: "Section 6. Automatic Price Control. - "XXX "Unless sooner lifted by the President, price control of basic necessities under this section shall remain effective for the duration of the condition that brought it about, but not for more than sixty (60) days: Provided, That, in the case of basic necessities that are wholly imported and deregulated under existing laws such as, but not limited to, household LPG [and], kerosene, GASOLINE, DIESEL AND OTHER PETROLEUM PRODUCTS, price control thereon shall remain effective for a period of not more than [fifteen (15)] THIRTY (30) days, taking into consideration the current inventory or supply levels thereof."

Sec. 3. Implementing Rules and Regulations. - Within ninety (90) days from

the effectivity of this Act, the Department of Trade and Industry (DTI) shall, in consultation with the Price Coordinating Council and relevant stakeholders, promulgate the necessary rules and regulations for the effective implementation of 18 this Act.

Sec. 4. Separability Clause. - Any portion or provision of this Act that is declared

unconstitutional or invalid shall not have the effect of nullifying other portions or provisions hereof as long as such remaining portions can still subsist and be given effect in their entirety.

Sec. 5. Repealing Clause. - All laws, ordinances, rules, regulations, other

issuances or parts thereof, which are inconsistent with this Act, are hereby repealed or modified accordingly.

Sec. 6. Effectivity. - This Act shall take effect fifteen (15) days after its

2 publication in the Official Gazette or in a newspaper of general circulation. Approved,