Fuel price cuts seen next week

Fuel price cuts seen next week

/ 09:33 AM August 07, 2026
Crude surges, stocks dive as Houthi attacks escalate Iran war
Fuel price reduction seen next Tuesday. | INQUIRER File Photo / NIÑO JESUS ORBETA

MANILA, Philippines —Motorists may get relief next week as easing Middle East tensions drive bigger diesel and gasoline price rollbacks of about P5 per liter.

Based on estimates from Jetti Petroleum president Leo Bellas, local diesel and gasoline prices may drop by P4.50 to P5 per liter on August 11. 

READ: Trump says Iran talks happening ‘right now’

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“Oil price retreated as renewed hopes of a diplomatic breakthrough to the US-Iran conflict eased the geopolitical risk premium, despite the lingering uncertainty and persistent risks to Red Sea shipping,” he said Friday. 

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The estimates were based on the first four days of trading in the Mean of Platts Singapore and foreign exchange movements. 

READ: Iran says close to Hormuz plan with Oman, but reopening depends on US

Fuel retailers will announce their official price adjustments on Monday. /pai

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TAGS: diesel, fuel price cuts, Gasoline, Mean of Platts Singapore, US-Iran ceasefire

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