Manila: The Philippines government plans to raise the ethanol blend in gasoline to 20% voluntarily from the current mandatory 10% to lower domestic gasoline prices, Energy Secretary Raphael Lotilla said on Tuesday.
Lotilla asserted that this enhancement in ethanol blend is anticipated to translate into a reduction of over one peso per liter in gasoline prices. The government has set its sights on the approval of this measure by the conclusion of 2023.
Lotilla emphasized the primary objective of this endeavor, stating, “This is primarily a price-mitigation measure because ethanol is especially important as it is cheaper than the price of gasoline.”
This initiative was part of a comprehensive discussion that transpired during a meeting with President Ferdinand Marcos Jr. Among the topics under consideration was the alteration of the “trigger period” for extending subsidies to the public transport sector, Lotilla added.
