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Group of oil firms appeals to DoE on Euro 2 revival

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AFP

Independent Philippine Petroleum Companies Association (IPPCA) has asked the Department of Energy (DoE) to consider other means in helping rein in inflation instead of ordering oil firms to bring back the cheaper but dirtier Euro 2 diesel into the market.

IPPCA President Jesus Manuel C. Suntay said members of his group had met with the DoE on Monday, Aug. 20, to give their side and the reasons why they are opposing the directive.

He said oil importers were done with procuring their fuel requirement based on their actual volume. He said bringing in Euro 2 diesel would take time and could not be done immediately.

“Adding a new product at this point was not considered in that volume requirement,” he said.

The DoE, which told oil players to submit their Euro 2 implementation plans by Friday, has softened its stance, saying on Tuesday that the two sides would continue to discuss possible measures to curb inflation.

“We should continue to find ways, as one sector, to address these issues for our consumers and for our economy,” said DoE Secretary Alfonso G. Cusi in a statement. — Victor V. Saulon

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