Amidst a Pakistan-brokered two-week ceasefire between the United States and Iran, Brent oil prices fell back below US$100 per barrel on Wednesday (April 8), continuing into Thursday, with Shell becoming the first fuel company here to calibrate petrol prices downwards — by 4 cents.

Iran’s strikes across the Persian Gulf, triggered by U.S. and Israeli attacks at the end of February, damaged refineries, oil fields, ports and gas plants. That included key Shell assets at the massive Ras Laffan complex in Qatar. Shell also has joint ventures from Iraq to Oman and the United Arab Emirates.

Expectations for a significant fuel price rollback this week have proven to be true as one oil firm announced, as of press time, that it will reduce the price of diesel by as much as P23 per liter. Shell Philippines said it will slash diesel prices by P23 per liter,

Exxon and Shell experienced some negative impacts during the first quarter.

The fallout from war between the United States, Israel and Iran has dominated global oil markets. And not just because the Strait of Hormuz, which normally carries about 20% of global oil and gas, remains effectively closed to shipping traffic.

PILIPINAS Shell will implement another big-time fuel price increase on Tuesday, April 7, 2026.According to the firm's advisory, there will be a P19.80 per liter

Its net profit rose 11 per cent last year to nearly $18 billion as higher sales volumes and lower costs offset falling oil and gas prices.

As Americans struggle with rising prices, Lockheed Martin, Shell and other companies are experiencing gains

The petrol price reprieve in Singapore may be over.Just like peace talks between Iran and the US, Shell made the first move again — raising petrol prices by 7 cents on Monday (April 13), on the fifth day after it calibrated prices downwards by 4 cents.