Motorists will face higher fuel costs this week after oil companies implemented another round of price increases, with diesel rising by more than P5 per liter amid renewed concerns over supply disruptions linked to the Iran war, BusinessWorld reported.
The Department of Energy (DoE) on Monday said gasoline prices might move in the opposite direction, possibly by a rollback of up to an unspecified amount. The contrasting movements reflect the uneven impact of geopolitical tensions on different fuel products.
The price adjustments come as the conflict in Iran tightens global crude supply outlooks, pushing diesel costs higher while gasoline prices remain subject to separate market dynamics.