Manila, March 6 -- President Ferdinand R. Marcos Jr. on Friday said he is closely coordinating with Congress to introduce amendments to the Biofuels Act of 2006 to allow the use of cheaper bioethanol.

The proposed amendment is seen to cushion the impact of the soaring oil prices amid the escalating tensions in the Middle East, Marcos said in a video message.

"Kinaka-usap na natin ang Kongreso upang amyendahan ang Biofuels Act of 2006, upang magamit natin ang mas murang bioethanol para sa pagbababa pa ang presyo ng gasoline (We are discussing with Congress amendments to the Biofuels Act of 2006 so that we can use cheaper bioethanol to further reduce gasoline prices)," Marcos said.

Marcos said the proposal to amend the Biofuels Act is am...