According to the latest price tracker from Philstar Biz, oil and fuel prices for the week of June 23 to 29 are being closely monitored amid global supply concerns.
The ongoing disruption in the Strait of Hormuz, a critical chokepoint for global oil shipments, has raised fears of supply constraints. However, the immediate impact on local pump prices for this week remains limited.
Analysts expect the full effect of the Strait of Hormuz situation to be incorporated into next week's price adjustments, as oil companies typically take time to pass on international price changes to consumers.