Philippines cuts fuel prices as Iran peace talks ease oil shock
Filipino motorists got their first relief in months as the Department of Energy ordered fuel rollbacks of up to ₱10.86 per liter, driven by falling global oil prices as US-Iran ceasefire talks gained momentum. The cuts come after diesel hit ₱130 per liter during March's energy crisis when the Iran war closed the Strait of Hormuz, pushing inflation to 7.2 percent. Manila's strategic pivot from emergency mode to price relief signals broader confidence that Middle East shipping lanes will stabilize, with knock-on effects for Asian economies that import 85 percent of their crude through the same chokepoint.
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