The Philippines’ Secretary of Energy, Sharon Garin, announced on Tuesday that the country has requested the U.S. to extend a waiver for purchasing Russian oil and petroleum products, which expired on April 11. The government remains optimistic about the extension but is also preparing alternative supply options in case the request is denied.
Garin emphasized the need for diversification in energy sources, noting that the Philippines is exploring suppliers beyond Russia, including countries in South America like Colombia and Argentina, as well as Canada and the U.S. “We want more options,” she stated, highlighting the importance of diversifying energy supply.
Ambassador to the U.S., Jose Manuel Romualdez, mentioned that Manila is collaborating with Washington to secure waivers that would allow the Philippines to acquire oil from nations under U.S. sanctions.
In related news, President Ferdinand Marcos Jr. has suspended the excise tax on kerosene and liquefied petroleum gas after receiving emergency powers from Congress. However, Finance Secretary Frederick Go expressed concerns that suspending excise taxes on diesel and gasoline may not provide significant relief, as any price reductions would likely be minimal and offset by market conditions.
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