OIL PRICE WATCH as of May 8, 2026

MANILA, Philippines – Motorists are hopeful that next week there will be another round of fuel price rollbacks after global oil prices plunged on easing tensions between the United States and Iran. International oil markets fell sharply after US President Donald Trump said a possible deal with Iran was “very possible,” easing fears of a wider conflict in the Middle East that could disrupt oil supply. The sharp drop in global crude prices boosted expectations that local oil firms could implement another reduction in pump prices should the trend continue over the next few trading days. Below are the prevailing […]...

Keep on reading: OIL PRICE WATCH as of May 8, 2026