00:00Fuel prices are poised for another significant retreat next week, as cooling tensions in
00:05the Middle East drive global benchmarks lower, offering a second consecutive wave of relief
00:10to local motorists and transport operators.
00:13Based on the first three days of trading for the mean of Platts, Singapore, the regional
00:17pricing standard, industry data suggests a substantial rollback is on the horizon.
00:23Diesel prices are projected to plunge by 18 to 20 pesos per liter, while gasoline prices
00:29are estimated to decline by 2 to 3 pesos per liter.
00:32These adjustments, which reflect the volatile premium shifts in the Asian refined products
00:37market, are expected to be finalized by oil companies on Monday, April 20.
00:42The downward trajectory follows a de-escalation in geopolitical anxiety as diplomatic efforts
00:49involving the United States, Iran and Israel show signs of progress.
00:53Market analysts noted that the prospect of a sustained ceasefire has mitigated fears of
00:58a supply disruption in the Persian Gulf, a critical choke point for global crude flows.
01:04A source told the Manila Bulletin that the improving signs of diplomacy have neutralized
01:09much of the risk premium that had been baked into fuel costs earlier this month.
01:13However, the Department of Energy remained cautious, maintaining that the local market remains
01:19highly sensitive to any sudden shifts in the Middle East.
01:22While current trends favor the consumer, the agency warned that any intensification of conflict
01:27could abruptly reverse these gains and spike prices higher.
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