Gulf situation still unpredictable; no certainty fuel prices will fall, DoE’s Garin says - BusinessWorld Online

Gulf situation still unpredictable; no certainty fuel prices will fall, DoE’s Garin says - BusinessWorld Online

THE situation in the Persian Gulf remains unpredictable despite the US ceasefire declaration, with no certainty that fuel prices will stop rising, Energy Secretary Sharon S. Garin told House legislators. Ms. Garin said at a joint committee meeting on Wednesday that while a two-week ceasefire is in place, it is highly conditional, making it less certain it will be honored. “Will (fuel prices) go up to (P200 per liter)? Honestly, I don’t know and …