Philippines Embraces Euro-II Fuels Amid Middle East Crisis
The Philippines has allowed the limited use of Euro-II fuels to maintain supply during the Middle East crisis, targeting older vehicles and specific sectors. Efforts include talking to other Asian nations for alternative fuel supplies and taking various measures to mitigate the effect of rising fuel costs.
- Country:
- Philippines
MANILA, March 22 - In a strategic move to maintain its fuel supplies amid the ongoing Middle East crisis, the Philippines has authorized the temporary use of the cheaper Euro-II fuels. Aimed at older vehicles, traditional jeepneys, power plants, and shipping sectors, this decision provides short-term economic relief.
The Department of Energy confirmed that Euro-II products would be segregated from the existing Euro-IV fuels, thereby addressing both supply needs and environmental concerns. This action follows a surge in local diesel prices due to rising global oil rates linked to geopolitical tensions.
Facing steep oil prices, the government is negotiating with nations such as India, China, and Japan for potential fuel deals. Additionally, measures like fuel subsidies and reduced workweeks have been implemented to ease domestic pressure.
ALSO READ
-
SA Assures Stable Fuel Supply, Urges Public to Avoid Panic Buying
-
Middle East Turmoil: Rising Airfares and Fuel Supply Concerns
-
South Africa Assures Stable Fuel Supply Despite Global Oil Price Surge
-
Historic Wins: Philippines and North Korea Secure Women’s World Cup Spots
-
Philippines Clinch World Cup Spot with a Commanding Victory
Google News