The Philippines' Secretary of Energy Sharon Garin on Tuesday said the country has asked the United States to extend a waiver to purchase Russian oil and petroleum products.
Garin said the government is optimistic about extending the waiver which expired on 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," Garin said at a news briefing.
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 U.S., Garin said.
"We wanted to open the Russian window because we want more options. We need diversification," she said.
Ambassador to the United States Jose Manuel Romualdez last month said Manila was working with the U.S. to secure waivers and exemptions that will allow the Philippines to obtain oil from U.S.-sanctioned countries.
President Ferdinand Marcos Jr on Monday suspended 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.
Secretary of Finance Frederick Go on Tuesday 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."
(Reuters - Reporting by Karen Lema and Nestor Corrales; Editing by John Mair, David Stanway and Christopher Cushing)
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