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Recto shoots down Palace proposal to buy oil from Russia: Pareho lang presyo sa Dubai

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The prices of crude oil in the Middle East and Russia are almost the same.

Senate President Pro Tempore Ralph Recto stressed this as he rejected the supposed plan of Malacanang to buy oil from non-OPEC (Organization of the Petroleum Exporting Countries) members.

Most OPEC members are from the Middle East. The government is eyeing to import oil from non-OPEC members, such as Russia, as global oil prices continue to rise affecting local rates.

The continued increase in oil prices in the world market led to price hikes in basic goods aggravated by the implementation of the excise tax on oil under that Tax Reform Acceleration and Inclusion (TRAIN) Law.

Asked to comment on the reported government’s plan to buy oil from Russia instead from the Middle East, Recto said, “Ganun din ‘yun. Hindi nagkakalayo ang presyo niyan.”

“Kung sa Russia pa ‘yan e mas malayo. E, mas mahal ‘yan. Mas malapit ang Middle East sa Pilipinas kaysa sa Russia,” he said.

“Di ko alam kung bakit, sino ang nagsalita niyan na dapat mag import (ng oil) sa Russia dahil mas malayo ‘yan,” Recto said.

When told that it was Presidential spokesman Harry Roque who brought up the idea, Recto said, “Kahit sino nagsabi n’yan it doesn’t add up.”

“Mas malayo ang Russia. Mas mahal ang transportation costs,” he said in a radio interview.