Metro Manila, Philippines – President Ferdinand Marcos Jr. has certified as urgent a Senate bill that would pave the way for the importation of biofuel — another measure aimed at cushioning the impact of soaring fuel prices amid tensions in the Middle East.
Marcos made the move on Monday, March 16, just as the Department of Energy announced another major increase in pump prices beginning Tuesday.
“I hereby certify to the necessity of the immediate enactment of Senate Bill No. 1965… to mitigate the impact of rising fuel prices amid escalating geopolitical tensions and volatility in global markets, as well as to strengthen the country’s resilience against future disruptions to energy supply,” Marcos said in his letter to Senate President Vicente “Tito” Sotto III.
The Senate bill seeks to amend the Biofuels Act of 2006, which mandates the use of locally sourced biofuel components in all liquid fuels for motors and engines sold in the country.
The proposed amendment would allow the president, through an executive order, to authorize the importation of biofuel components such as bioethanol and biodiesel if the price of blended gasoline or diesel becomes at least 5% higher than pure fuel.
The bill allows any presidential action to last up to one year, regardless of local supply availability.
The measure cleared the Senate committee on energy last week. With the president’s urgent certification, the Senate may approve the bill on second and third reading on the same day, speeding up its passage as Congress enters its final session week before the break from March 21 to May 3.
A counterpart measure is pending in the House of Representatives.
Marcos earlier certified as urgent a measure granting him powers to suspend the imposition of oil excise tax, a measure lawmakers are also targeting to pass this week.
