AutoIndustriya.com / AutoIndustriya.com, DOE | August 22, 2018 12:39
DOE backtracks on mandatory sale of Euro 2 diesel by oil companies
Following numerous backlash and even being called out by the Department of Transportation (DOTr), the Department on Energy (DOE) has issued a new statement regarding their Department Order (DO) mandating the imporation of low-priced Euro-2 fuels to alleviate the effects of rising fuel prices. In the statement, the DOE says that their directive to the Philippine National Oil Company-Exploration Corporation (PNOC-EC) is simply optional.
DOE Secretary Alfonso G. Cusi recently met with players of the oil industry to discuss other possible measures to curb the sharp inflation of fuel prices. In addition to the Euro 2 diesel option, Sec. Cusi addressed other issues as well such as the implmementation of Biofuel Law, fuel markings and even discounts for consumers.
“We should continue to find ways, as one sector, to address these issues for our consumers and for our economy,” said Sec. Cusi.
It was only last week when the DOE first issued the DO of importing low-priced fuels to help with the rising prices of fuel in the market. The DOE claims that their new directive will create a ripple effect which will help lower if not tame the market prices of other comodities and possibly control inflation. Meanwhile, the DOTr says that the DOE's order is a 'retrogression that takes us several steps back'. Furthermore, the DO runs counter to the Clean Air Act law which mandates the sale of Euro 4 fuel to passenger and commercial vehicles.
Apart from the Euro 2 diesel being optional, other options to alleviate rising fuel prices have not been confirmed as of writing.