‘Iran deal won’t reduce fuel prices’MANILA, Philippines — Fuel prices are expected to remain high in the Philippines, as the ceasefire declared by US President Donald Trump is unlikely to be felt at domestic pumps, industry experts said yesterday. While easing tensions in the Middle East could help temper global oil prices, Jetti Petroleum president Leo Bellas said fuel costs may remain high due to unchanged supply conditions. New normalFormer energy officials also cautioned that elevated fuel prices could last for several months, with a potential “new normal” settling at around P100 per liter. “I don’t think the war will end by December, from the looks of it, so we will be facing high oil prices,” Layug said. Supply strainThe impact of soaring fuel prices is being felt across the country, with 393 fuel stations temporarily shutting down due to lack of supply, according to the Philippine National Police.

Source: Philippine Star April 08, 2026 16:44 UTC