MANILA, Oct 24 (Reuters) - The Philippine government aims to lower domestic pump prices for gasoline by calling for a higher ethanol blend of 20% on a voluntary basis, from the current mandatory 10%, Energy Secretary Raphael Lotilla said on Tuesday.
In a press briefing, Lotilla said increasing the ethanol blend will result in a more than one peso per litre reduction in the price of gasoline.
The government is aiming to approve the measure by the end of 2023, he said.
"This is primarily a price-mitigation measure because ethanol is especially important as it is cheaper than the price of gasoline," he said.
It was among several measures discussed during a meeting with President Ferdinand Marcos Jr., which also include changing the "trigger period" for providing subsidies to the public transport sector, the minister added.
(Reporting by Enrico Dela Cruz; Editing by Kanupriya Kapoor)
