It wants to reduce the effect of international oil price hikes.
The Philippines Ministry of Energy has announced that oil companies will be allowed to commercialize the more pollutant (and cheaper) Euro-II compliant automotive diesel oil, in an attempt to reduce the effect of rising international fuel prices on the national inflation rate. The motion shifts the country from a Euro-IV standard stated by the Environment department in 2016 to reduce pollution, since Euro-IV fuels have sulphur content of 50 ppm, compared to 500 ppm for Euro-II fuels.
The Ministry also ordered the National Oil Company-Exploration Corp to raise imports of low-priced oil products (especially diesel) to mitigate volatile oil prices.
This article was originally published by Enerdata.
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