(Eagle News) — The Philippines is looking to import diesel from Russia.
According to Presidential Spokesperson Harry Roque, based on a report from Energy Secretary Alfonso Cusi, the Philippine National Oil Company Exploration Corporation (PNOC-EC) has taken steps to do just that to help mitigate the effects of the rising prices in fuel.
“Ang landed cost po dito kasama na ‘yung cost, insurance and freight sa Pilipinas is estimated only to be between ₱25 to ₱27,” Roque said.
He said, however, that it was possible the fuel would need to be subjected to “additional processing in Singapore” before it is used.
“But at half the price, maski may additional cost ang reprocessing sa Singapore, I think it will be a lot cheaper than current prices of diesel,” Roque said.
Russia is not a member of the Organization of the Petroleum Exporting Countries, where the Philippines usually sources its fuel.
Several senators have called for a suspension of the implementation of the Tax Reform for Acceleration and Inclusion law, which also imposes excise taxes on fuel, among others.
But the government has rejected this as an option, saying Filipinos would benefit in the long run from the services to be funded by the government’s additional earnings from the law.
