Energy dep't pushes Euro 2-compliant diesel to help curb inflation

Vivienne Gulla, ABS-CBN News

Posted at Aug 10 2018 08:17 PM | Updated as of Aug 11 2018 12:21 AM

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MANILA (UPDATED) - The Department of Energy (DOE) on Friday directed oil industry players to offer Euro 2-compliant diesel as fuel option for the transport and industry sector in a bid to ease inflation.

Euro 2 diesel, which also contains higher sulfur, costs P0.28 to P0.30 less than Euro 4 based on the estimate of the energy department. 

“Kumbaga sa menu ng bibilhin ng isang gagamit ng diesel, pag dumating siya sa isang gasolinahan, dapat may available din na Euro 2 compliant,” DOE Spokesperson Undersecretary Wimpy Fuentebella said in meeting at the House of Representatives.

“Sa Department of Environment and Natural Resources (DENR), sinabi rin nila na negligible naman yung magiging impact. Minamatch lang talaga natin dito yung makina na nandyan na sa mga kalye natin,” he added.

The measure was among those discussed in a meeting with officials of the DENR, the Department of Transportation, and lawmakers at the House of Representatives.

Energy Secretary Alfonso Cusi has also tapped the Philippine National Oil Company-Exploration Corporation (PNOC-EC) to import low-priced fuel.

The PNOC-EC Board chaired by the energy chief is drafting the trading procedure and policy safeguards for the public on the proposed importation.

IBON Foundation earlier said that the weakening peso, rising global oil prices, and the Tax Reform for Acceleration and Inclusion (TRAIN) law are among the "most important proximate sources of inflationary pressure."

The consumer price index rose 5.7 percent in July from 5.2 percent in June, government data showed.