MANILA, April 14 — The Philippines' Secretary of Energy Sharon Garin said the country has asked the United States (US) to extend a waiver to allow the purchase of Russian oil and petroleum products.
The government is optimistic about extending the waiver, which expired on Sunday (April 11), but is preparing alternative supply arrangements in case the request is declined.
"We are awaiting their response, but we are very positive on getting this other window," she said at a news briefing today.
The Philippines is diversifying its energy sources, and supply options are not limited to Russia, with the government also eyeing producers in South America, including Colombia and Argentina, as well as Canada and the US.
"We wanted to open the Russian window because we want more options. We need diversification," Garin said.
Last month, Filipino Ambassador to the United States Jose Manuel Romualdez said that Manila was working with the US to secure waivers and exemptions that would allow the Philippines to obtain oil from US-sanctioned countries.
Yesterday, President Ferdinand Marcos Jr suspended the excise tax on kerosene and liquefied petroleum gas after Congress granted him emergency powers to adjust fuel tax rates. His team of economic managers have opposed the suspension of excise tax on diesel and gasoline.
Earlier today, Secretary of Finance Frederick Go said the Development Budget Coordination Committee, composed of those economic managers, "has determined that suspending excise taxes on diesel and gasoline would not likely provide meaningful relief, as any reduction in retail pump prices would be marginal and largely offset by prevailing market dynamics."
