Skip to content
Guavy Logo GUAVY
Sign up
Back to Guavy Wire
Commodities

Oil Prices Set to Drop by Up to P5/L This Week

Guavy AI Editorial Team
Instruments
Oil
Share

Oil prices in the Philippines are set to decrease by as much as P5 per liter this week, following market developments reflecting the situation in the Middle East. Oil companies have announced price adjustments for diesel, gasoline, and kerosene effective tomorrow, August 11.

The price rollback is attributed to the easing of geopolitical risks due to renewed hopes of a diplomatic breakthrough between the US and Iran. Crude oil prices have decreased, leading to a sharp drop in both diesel and gasoline prices in Asia.

Jetti Petroleum president Leo Bellas noted that the stronger Philippine peso against the US dollar has put additional downward pressure on domestic prices. He also mentioned that fundamentals remain relatively firm due to strong demand amid tightening supply as Middle East exports continue to be disrupted.

More on Commodities

Commodities 1m ago

California Lawmakers Target Oil Profits Amid Record Earnings

Commodities 1m ago

LA City Council Approves $1 Billion Hydrogen-Gas Retrofit Plan Despite Warnings of Higher Costs and Pollution

Commodities 1m ago

Houthis Strike Saudi Aramco's Jazan Refinery Amid Regional Tensions

Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Guavy Logo GUAVY

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

Navigate

Markets

Resources

© 2026 Guavy Inc

Terms Privacy Policy