Domestic fuel prices in Manila are expected to drop by up to P4 per liter next week, following a recent sharp increase. The projected decline comes as market concerns over the US-Iran conflict have eased, according to Jetti Petroleum president Leo Bellas. Bellas cited international market trends as of Thursday, indicating that diesel prices are likely to decrease.
The price rollback follows a significant jump in fuel costs this week, which had raised concerns among consumers and businesses. Analysts suggest that the stabilization of global oil markets has contributed to the anticipated drop. However, the exact timing and extent of the price reduction remain subject to further developments.
The government has not yet announced any immediate intervention, but the potential decrease could provide relief to motorists and reduce transportation costs. Industry experts are closely monitoring the situation, with further updates expected in the coming days.
