Why fuel prices in Philippines stay high despite Hormuz dealWith most crude imports sourced from the Middle East, local fuel prices in the Philippines remain closely tied to international market movements. "Safe passage supports supply stability, but local prices are still tied to global oil markets," AB Capital Securities' research arm said in its commentary. While the arrangement helps keep tankers moving, it does not lower global crude prices or reduce added costs tied to conflict risk, including higher shipping insurance and premiums. Changes in world crude prices can take over several weeks to two months to pass through to pump prices, according to a previous study. That risk premium flows through the supply chain, from crude benchmarks to refined fuel and eventually to local pump prices.

Source: Philippine Star April 06, 2026 05:38 UTC