A House bill has been filed that proposes a nationwide price cap on diesel to cushion the impact of the ongoing oil price crisis, particularly on the transport sector and consumers.

Caloocan 2nd District Representative Edgar Erice filed the “Diesel Cap Act,” which seeks to limit diesel prices to ₱70 per liter across the country. The proposal includes a ₱400-billion subsidy program to cover the gap between the capped retail price and prevailing global market prices.

Erice said the measure aims to stabilize fuel costs and prevent further increases in transportation fares and commodity prices. He noted that similar mechanisms have been implemented in other countries, citing South Korea, where diesel prices are capped at around ₱74 per liter with government subsidies.

According to the lawmaker, such interventions have helped control inflation and shield consumers from the effects of global oil price volatility, particularly amid tensions in the Middle East.

The proposed measure is now under consideration in the House of Representatives as part of broader efforts to address the economic impact of rising fuel prices.