Despite the low price of gasoline in the Philippines (and the world for that matter), the department of energy said that they will push through with the implementation of the biofuel law as well as higher biofuel mixture in fuels sold at the pump.
The Philippine Biofuel Law of 2007 states that there will be a fixed mixture of bioethanol in gasoline and biodiesel in petrodiesel being sold at gasoline stations. And this will increase gradually, depending on the recommendation of the National Biofuels Board (NBB). The biofuels will have to be sourced locally but gasoline companies can import biofuels from abroad if local demand cannot keep up with the supply.
According to the DOE:
It was believed that biofuels development should not hinge basically on supply and demand of oil but its contribution to cleaning the environment.
I have to chime in too that give it a few years/months when the world economies get back on their feet and you will start seeing the price of oil go up again. Rather than be forever at the mercy of the price of oil, its better to bite the bullet and ween ourselves out of this dependence for foreign oil.
[source]
Category: Biodiesel, Bioethanol, Automotive, Oil Price, Biofuel
