DOE CONSIDERS BIOFUEL IMPORTS TO CURB RISING FUEL PRICES

The Department of Energy (DOE) is proposing limited biofuel imports to help temper rising gasoline prices amid global oil cost increases.

Energy Secretary Sharon Garin said the country still has sufficient gasoline, kerosene, and diesel supplies to last until April, but pump prices are expected to rise.

The proposal, linked to amendments to the Biofuel Act of 2006, would temporarily permit imports if domestic biofuel prices are at least 5 percent higher than those of pure fuel for up to one year.

Imported biofuel currently costs about half as much as local ethanol, raising concerns among domestic producers who rely on molasses for ethanol production.

Lawmakers emphasized the need to balance consumer protection and energy affordability while supporting local ethanol farmers.

Source: PhilNews24 | March 12, 2026