ALL fuel prices were lowered on Tuesday, June 23, as the global market reacted to Iran and US signing an interim peace deal and the brief reopening of the Strait of Hormuz.
The prices of diesel went down by P9.04 per liter, gasoline by P3.90 per liter, and kerosene by P11 per liter.
Last week, the price of diesel dropped by around P3.71 to P5.71 per liter, gasoline rose by P1.68 per liter, and kerosene declined by around 50 centavos to P3.50 per liter.
The Department of Energy said it will continue monitoring developments in the Middle East, after Iran closed the Strait of Hormuz again due following recent attacks by Israel in Lebanon.
“It is still too early to tell where fuel prices will settle, so we will just continue with the monitoring for now,” Energy Secretary Sharon Garin said in an online media briefing.
