Philippines DOE says fuel prices may take 6–12 months to return to pre-crisis levels

The Philippine Department of Energy said a breakthrough in U.S.-Iran peace talks has improved sentiment, but domestic pump prices may need 6 to 12 months to return to pre-crisis levels. Diesel and kerosene rollbacks have begun, cutting diesel by P3.71–P5.71 per liter and kerosene by P0.50–P2.50 per liter. Gasoline prices may either be reduced by P0.32 per liter or raised by up to P1.68 per liter. In Metro Manila, diesel is around P76.19–P78.19 per liter and gasoline about P78.78–P80.78 per liter.