Solon Opposes DA Proposal to Increase Coco-Biodiesel Blend from 2% to 5%
Marinduque Rep. Lord Allan Velasco is opposing a proposal put forward by the Department of Agriculture (DA) to increase the coconut methyl ester (CME) blend from the current two percent to five percent, calling the move 'anti-consumer' because of its adverse impact on pump prices.
"As it is, consumers are already faced with the burden of high fuel prices," said Velasco, who-cochairs the Joint Congressional Oversight Committee on Biofuels. "Raising the biofuels blend will only aggravate this, as the upward adjustment in the CME blend is projected to increase the pump prices in diesel by at least PHP2.25 per liter."
At the present two-percent blend, the lawmaker explained, the impact of CME on diesel is already at PHP1.50 per liter.
"We must keep in mind that a huge chunk of diesel consumers is from the public transport sector, and any increase in diesel prices will lead to higher transportation cost," Velasco added.