WHEREAS, as of 2014, the bioethanol requirement of the local market runs to as high as 455 million liters and it is projected that this will increase in the near future to an average of about 5% annually in order to meet the ten percent (10%) bioethanol blend requirement as required under Section 5.2 of the Biofuels Act of 2006 (Biofuels Act) and Department Circular No. 2011-02-0001;

WHEREAS, on 04 July 2013, the NBB recommended allowing the exemption of gasoline products of certain grade as one of the courses of actions that will address the problem in the best interest of the country as this will reduce our imports, encourage the local producers to increase their output and improve the power of choice at lower cost of the Filipino customers;