The House of Representatives Committee on Petroleum Resources (Downstream) has raised concerns over a possible increase in the prices of petroleum products if supply-side challenges affecting local refineries are not urgently addressed.
The committee warned that ongoing operational inefficiencies and supply disruptions within domestic refining facilities could worsen fuel scarcity and drive up pump prices across the country. Lawmakers stressed that without immediate intervention from relevant government agencies, the situation may further strain consumers already grappling with high living costs.
According to the committee, strengthening the capacity and efficiency of local refineries remains critical to ensuring stable fuel supply and reducing dependence on imports. They called on regulatory bodies and industry stakeholders to resolve bottlenecks hindering production and distribution within the downstream sector.
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The lawmakers also highlighted the need for coordinated policies that support refinery operations, improve logistics, and enhance transparency in the supply chain. They noted that addressing these challenges would not only stabilise prices but also boost energy security and economic growth.
The warning adds to growing concerns within the sector, as stakeholders continue to monitor developments in refining operations and their impact on petroleum pricing nationwide.
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