WATCH: Why fuel prices in Philippines remain high despite Iran’s assuranceMANILA, Philippines — Vessels bound for the Philippines are now assured safe passage through the Strait of Hormuz, following Iran’s commitment to allow unhindered transit through one of the world’s most critical shipping routes. At first glance, this may sound like a relief for global oil markets and potentially for fuel prices in the Philippines. However, safe passage does not automatically mean lower gasoline and diesel prices at the pump. Find out why in this episode of Philstar.com's Long Story Short. — Video edited by Philstar.com/Geraldine Santos

Source: Philippine Star April 09, 2026 04:09 UTC