Photo courtesy of Joan Bondoc- Philippine News Agency (PNA).
With a bit of relief, motorists can expect fresh big-time fuel price cuts next week amid the petroleum market’s optimism with a positive outlook on upcoming peace talks between the United States and Iran.
An industry source, who requested anonymity, shared that diesel could have an estimated rollback of ₱6.50 to ₱7.50 per liter starting June 2.
The source cited that “the price cuts on crude and refined fuel products prices are credited to improving sentiments that the US and Iran are moving closer towards a peace deal.
However, both parties still remain at odds over key issues, but growing optimism on the prospect that the Strait of Hormuz will be reopened soon has surfaced at the same time.”