Iran-US-Israel Conflict Pushes Oil Prices Up | Manila Drivers Rush for Fuel

Описание: Fuel stations in Manila witnessed long queues as motorists rushed to fill their tanks ahead of an expected fuel price hike. The surge in fuel demand comes amid rising global oil prices triggered by the ongoing conflict involving Iran, Israel and the United States.

Oil companies in the Philippines announced that fuel prices could increase by 17 to 24 pesos per litre, prompting drivers to line up at petrol stations before the new prices take effect.

Meanwhile, Ferdinand Marcos Jr. said the government is considering seeking emergency powers from Congress to reduce excise taxes on petroleum products if global oil prices continue to rise beyond $80 per barrel.

The situation highlights how geopolitical tensions in the Middle East are affecting fuel prices and economies across the world.

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