Oil-poor Philippines is to shift to a four-day work week with fuel prices set to rocket up amid the Iran war, President Ferdinand Marcos said Friday.
Marcos announced the shift, set to start at all government offices on Monday, among measures aimed at easing the economic impact of the armed conflict involving Iran, Israel and the United States.
He warned the effective closure of the Strait of Hormuz, through which a fifth of the world’s oil supply transits, would increase local pump prices next week by 7.48 pesos per litre for gasoline, 17.28 pesos for diesel, and 32.35 pesos for kerosene (13-55 US cents).
“We are victims of a war that is not of our choosing,” Marcos said in a…