The Department of Energy (DOE) expressed hope that fuel prices may decrease next week, particularly if positive developments continue in the global market.
The outlook follows the signing of a peace agreement between the United States and Iran, which has eased concerns over potential disruptions in global oil supply.
In an interview, DOE Oil Industry Management Bureau Director Rino Abad said a fuel price increase next week appears unlikely.
As a result, fuel prices could remain within the range of ₱70 to ₱80 per liter.
According to the DOE, the current price of diesel in Metro Manila ranges from ₱74.60 to ₱93.30 per liter, while gasoline prices range from ₱72.10 to ₱93.90 per liter.
The agency assured the public that despite the positive developments, it will continue to closely monitor movements in fuel prices and developments in the international oil market.
