RP launches campaign to trim oil use

RP launches campaign to trim oil use

MANILA: The Philippines on Tuesday launched a campaign to trim its oil consumption by 12 percent to deal with high crude prices.

The campaign aims to achieve "energy savings of 23 million barrels of oil equivalent, equal to a 12 percent reduction in our oil importation (bill) and savings of US$784 million" yearly, Energy Secretary Vincent Perez told reporters.

"At the moment, they (savings measures) are all voluntary. We have not yet crossed the line on mandatory" measures, he said, adding "We will never consider gas rationing."

The Philippines imports all of its oil requirements, and soaring crude prices have put pressure on consumer prices.

"We believe (high) oil prices are here to stay for quite sometime," he said.

"Thailand has already launched a campaign earlier this week and we are following suit." -- AFP