Consumers expecting a drop in pump prices face new hikes as Middle East tensions flare after US-Iran ceasefire and other regional developments. Gasoline and diesel set to climb, impacting motorists.
Photo by: Tina Panganiban-Perez/GMA Integrated News Motorists who just gained a respite from soaring pump prices will have to brace themselves for rising retail rates next week following renewed tensions in the Middle East between the United States and Iran.
An industry insider told GMA News that the prices of motor gasoline and diesel appear to be headed upward, with the following projections:The forecast rates were provided hours after theThe latest developments appear to be a blow to consumers who benefited fromof up to P11.04 per liter of diesel, P5.90 per liter of gasoline, and P11.82 per liter of kerosene. At the time, the US and Iran had just signed a ceasefire agreement, in preparation for a longer-lasting peace deal.
Based on data from GMA News Research, gasoline had two consecutive price hikes while diesel had a rollback ahead of the recent adjustments on June 23, Tuesday. Elsewhere in the Middle East, however, there were signs of progress in ending the four-month-old conflict, as Israel and Lebanon signed an agreement to end the fighting between Israel and Iran-backed Hezbollah.
Both sides framed the deal as an initial step that calls for Hezbollah to disarm and Israel to withdraw troops from Lebanon, but it was not clear how it would be enforced. Hezbollah said it would not cooperate.
Please follow us on Google to support usFuel Prices Middle East Conflict US-Iran Gasoline Diesel
Philippines Latest News, Philippines Headlines
Similar News: You can also read news stories similar to this one that we have collected from other news sources.
PH to pursue 'high-quality' investments to spur growth amid headwindsThe Philippines will pursue “high-quality” investments to spur growth amid the impact of the flood control corruption and the Middle East conflict on economic growth, a top official said.
Read more »
Motorists advised on traffic delays over EDSA anti-corruption rally on Sunday; police on alertMANILA, Philippines — Motorists are advised to expect traffic slowdown and road adjustments around the EDSA People Power Monument area on Sunday, as the White Ribbon Movement (WRM) holds a Prayer and Indignation Rally calling for accountability, justice, and reforms in public governance.
Read more »
The Importance of Trust in the Pharmaceutical IndustryIn today's healthcare landscape, effectiveness is becoming the most heavily scrutinized dimension of the pharmaceutical business. The Food and Drug Administration (FDA) plays a crucial role in ensuring that standards are met across all channels, from physical clinics to e-commerce. Consumers need to be able to trust that the FDA is actively policing the market, and they must learn to buy only from trusted, reputable sources and manufacturers who invest heavily in robust quality systems and digital monitoring.
Read more »
Business less pessimistic; consumers more worriedBUSINESSES were less pessimistic in May, the Bangko Sentral ng Pilipinas (BSP) reported on Friday, but consumer sentiment plunged in the second quarter amid differing views regarding the impact of the war in the Middle East.
Read more »