Reasons to hope for lower energy costs

THE Philippines, along with the rest of the world, has experienced nearly a year of elevated energy costs due to the protracted war caused by Russia's invasion of Ukraine. Electricity costs have steadily increased over the past few months, and there have been recent increases in the prices of vehicles and cooking fuel. Surprisingly, however, despite the impact of the war — or perhaps because of it — there are indications that prices of energy-related commodities will improve significantly over the next several months and in the coming years.