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Philippines: Oil Prices to Drop in Early August
Philippines is expected to see a rollback in gasoline prices ranging from P0.60 to P2 per liter during the first week of August, following renewed tensions between the US and Iran in mid-July.
MANILA, Philippines — Local pump prices are expected to go down by P0.60 to at least P2 for the first week of August, according to the energy department. The Department of Energy announced the following price adjustments on Monday, August 3: The rollback came after two weeks of major increase in domestic oil and fuel prices brought by renewed tensions between the United States and Iran in mid-July. The rollback is effective until Monday next week, July 10. Here are the new price estimates:
Original source
Philstar Business