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OIL PRICE WATCH as of April 22, 2026

Yesterday, April 21, motorists saw another significant, double-digit rollback for diesel.

This means P112 per liter for the regular diesel and around P147 per liter for premium variants-significantly lower from previous highs of about P170 per liter. Gasoline and kerosene also saw small rollbacks of P3.41 and P2 per liter, respectively.

The big-time rollback in pump prices is attributed to the easing of tensions in the Middle East-ceasefires are being extended while select oil tankers are now starting to sail through the Strait of Hormuz despite the continuing United States blockade.

Below are the oil prices monitored and gathered by the INQUIRER team as of April 22, 2026.

Karabakh rebuild enters final phase as resettlement accelerates

Reconstruction and rehabilitation work in Karabakh is continuing at full speed, with the final year of the State Program for the liberated territories now underway, AzerNEWS reports.

This was stated by Emin Huseynov, the Presidential Special Representative for the Aghdam, Fuzuli, and Khojavend districts, in comments to journalists.

Huseynov said that over the past period, more than 30,000 internally displaced persons have been resettled in the liberated areas. In total, more than 70,000 people are now living, working, and studying in these territories.

‘Today, 92 families have been relocated to the city of Aghdam, and the process is continuing with increasing momentum every day. This year, the resettlement process to the liberated territories will reach its peak. It is projected that up to 20,000 people will be relocated to Aghdam alone. Around 15,000 people are expected to be resettled in the Fuzuli and Khojavend districts. Reconstruction and rehabilitation work is also ongoing across 25 settlements in Khojavend,’ he added.

Background

On September 27, 2020, long-standing tensions escalated into full-scale military operations. Azerbaijan launched a counter-offensive, utilizing modern warfare tactics-most notably the extensive use of precision drones and advanced satellite intelligence.

The turning point occurred on November 8, 2020, when Azerbaijani forces liberated the fortress city of Shusha, strategically positioned above the regional capital.

The Ceasefire: On November 10, a trilateral statement signed by Azerbaijan, Armenia, and Russia ended the hostilities. Under the agreement, Armenia returned the occupied districts of Agdam, Kalbajar, and Lachin to Azerbaijan.

Final restoration of sovereignty

While the 2020 war liberated the surrounding districts, parts of the region remained under the control of a separatist administration. On September 19, 2023, Azerbaijan launched localized “anti-terror measures” lasting less than 24 hours. This led to the total dissolution of the separatist regime and the full restoration of Azerbaijan’s constitutional order across its entire internationally recognized territory.

Today, the region is undergoing massive reconstruction and demining efforts through the “Great Return” program, aimed at resettling displaced populations into newly built “smart villages” and cities.

How did we get here?

My boss and mentor sent me a WhatsApp message a fortnight ago containing an interesting snippet with the picture of a donkey sitting bemused on a water tank. On it was an epigram: ‘Question is NOT how to get him down, but ‘Who helped him get there?’

I did not need an AI (artificial intelligence’s) robot or Google to decipher the poetically sarcastic message. Nigerians complain perpetually about everything under the sun. We are living like people in a captured territory, under the mercy of criminal gangs who unleash mayhem on citizens. Yet, the system offers protective shields to those responsible for the problem because they are sacred cows.

You cannot cure a disease by treating the symptoms while you leave the cause of the ailment. You cannot task the thief that stole your jewellery to help you find it, it will be in vain. This is the helpless state we find ourselves since independence, no redeeming feature. You cannot be doing the same thing over and over and expect a different result; that is opaque illusion and insanity. This is the time to do a soul-searching reflection and properly interrogate the state of the nation and roadmap to our nationhood. While we are playing the ostrich, burying our heads in the sand, Nigeria is slipping away from us as criminals lay siege to the country.

How did some street urchins come to acquire military grade rifles and turn kidnapping into a lucrative industry? We have morons and buffoons wielding and trailing weapons all over the place and we are complaining about insecurity and rising gun violence! How did we get here?

We are rehabilitating and reintegrating terrorists and insurgents, offering them amnesty while the victims are still languishing in internally displaced peoples’ (IDP) camps. How did we get here?

Who recruited these people, and who are their sponsors? How did we get here, that supposedly seasoned military commanders would reduce soldiering to negotiation and deradicalization of insurgents and enemies of the state?

A soldier is not trained to trade words with the enemy of state; there is no such military teaching. A soldier is trained to delete or neutralize the enemy and not rehabilitate or de-radicalize him. The liberal scholars’ appeasement and pacifist’s non-kinetic approach to fighting insecurity should not be allowed to be elevated to a military doctrine. The Armed Forces of Nigeria is not a human rights organization to my knowledge. Senior military commanders should be seen to talk like soldiers that they are, and spit fire on the enemy. This is what gives confidence to citizens and jitters to the enemy.

How did we get the bunch of people in the National Assembly who are fixated on self-glorification and gratifications while the entire state palpitate in fear of insecurity and consuming economic strangulation? How did we get a civil service and police force that is cesspool of corruption? How did we get here that Nigerians no longer have faith in the judiciary and justice becomes illusory? Now, judges and justices are identified by their political sponsors and godfathers and filial affiliation in appointment. Is knowledge and integrity genetic?

How did the insurgents and bandits acquire the sophisticated military grade weapons, surveillance drones and other platforms? They make and circulate videos, collect ransoms and get supply of victuals with heavy logistics. They launch attack on our troops and travellers alike and get away with them, no consequences!

Meanwhile the security agents are chasing protesters and yahoo boys and tracking them even to the gate of hell but do not appear to have any clue where kidnappers, insurgents and bandits are operating from? And our military commanders see these criminals and terrorists as prodigal sons to be rehabilitated, criminals who have killed our troops, including generals and unleash terror on the people? Criminals that have turned cannibals roasting and eating their victims!

There has to be honest self-examination and retrospection. Let us stand before a mirror and take a good look at the image we cut. If we do not like the way we look, breaking the mirror will not change our image, we have to change ourselves. Nigeria has to change and we are the ones to fix it. There are questions and more questions!

At independence Nigeria was such a promising country with great potential to drive global leadership. All that now is a pipe dream; we are struggling for the soul of the nation. Who got us here? Nigeria is at ‘Bermuda Triangle’. We do not need outsiders to tell us that the country is not safe. Just in the course of last week, the American Embassy issued travel advisory and security alert and directed non-essential elements of their embassy to leave Abuja, Nigeria’s seat of power. Someone in the senate leadership is quoted as saying that insecurity will end two months after the next general election, 2027. The state of insecurity in Nigeria should be of concern to all of us; we just can’t continue like this!

The Ika people of Delta State have a saying that, ‘when you blame the kite for carrying the chick, you should also blame the hen that exposed its chick’. We vote and chose our leaders, but if you disagree with this assertion and say that elections are rigged, Nigerians are the ones that rigged the election. Come to think of it, what is actually not rigged in this country? Even marriages are rigged, hospitals swap babies in the labour room and maternity wards. At the end we have troubled homes, failed marriages and challenging parenting.

We cannot be surprised that there is corruption in this country because we are all in it together. We should not be surprised at the insecurity ravaging the country; we were here when some desperate politicians recruited them and imported some; go and ask former governor of Kaduna State.

If we have to fix Nigeria, we have to first fix our brains and change the way we do things. Nigerians even at old age are voting with their legs for greener pastures in Europe and America leaving the lush green vegetation of the rivers Niger and Benue, and the luxuriating savannah grass for criminals, bandits and terrorists to take over. Nigeria is not going to be fixed by political rhetoric and sloganeering, this should sink into our heads. The path is strewn with banana peels and we are not going anywhere led by geriatrics or their minions and heir apparent. As the saying goes, ‘what a snake sires will be like a snake’.

It is only in Nigeria that one sees those who did not contest or stand in for party primary elections becoming senators and governors by magisterial declarations of the court and judiciary. In Nigeria today, judgment is rigged the same way elections are rigged.

We are the ones to fix Nigeria. You do not need to write to the European Union or to the International Criminal Court at The Hague to come and solve the problem of brutality and human rights abuses in Nigeria; it is our battle, we have to fight it. You do not need scavengers and merchants masquerading as human rights activists and non-governmental organizations or civil society organizations that come out to protest only when the price is good. Corruption permeates the body system and fabrics of the nation and even the temples of worship are contaminated.

Putin says he knows how Ukraine war will end

Russian President Vladimir Putin stated on Tuesday that Moscow knows how the conflict in Ukraine will end, but “won’t make any public statements about it”, AzerNEWS reports.

“We’ll simply implement and strive for the goals we’ve set for ourselves, and accomplish the tasks we face,” he noted during a meeting with municipal employees. In addition, Putin declared enemies “are thinking about how to frame the fact that victory will belong to the Russian Federation.”

At the same time, Putin said that the Ukrainian regions annexed by Russia should reach the standard of living in the rest of the country by 2030.

LTO revokes female vlogger’s license after viral traffic violation

The Land Transportation Office (LTO) has revoked the driver’s license of a female vlogger over a viral traffic violation incident and imposed a two-year disqualification of her license renewal.

According to the LTO, the vlogger identified as Ishi Lee failed to attend the hearing and submit a verified explanation to the agency when she was summoned for reckless and distracted driving after she was caught filming herself while driving.

The agency also said that the vlogger continued to drive a vehicle despite being prohibited to do so. With this, it added that it released a Supplemental Order dated April 20, 2026 which showed her violations, such as reckless driving, driving without a valid driver’s license, anti-distracted driving, and being an improper person to operate a motor vehicle.

‘Because of this, the LTO imposed violations on the vlogger and revoked her driver’s license. She was also barred from applying for license renewal for two years,’ the LTO said in a statement on Tuesday.

Aside from this, the LTO said that the vlogger’s vehicle will remain impounded until she complies with all penalties and pays the fine. The agency also directed all law enforcement agencies to arrest her once she is caught driving in public.

With this development, LTO chief Markus Lacanilao issued a stern warning to motorists that will be caught violating traffic laws and regulations.

‘We will not tolerate repeated violations of traffic regulations. Whoever will continue to violate will face actions to protect the public’s safety,’ Lacanilao said in the same statement.

Rollback: Fuel prices down for second straight week

Oil firms will implement another round of fuel price rollbacks on Tuesday, April 21, marking the second straight week of reductions after months of increases driven by tensions in the Middle East.

The Department of Energy said Monday that diesel prices will be rolled back by at least P24.94 per liter.

Gasoline prices will be cut by at least P3.41 per liter, while kerosene prices will go down by at least P2 per liter.

Last week, diesel prices were reduced by P20 per liter, while gasoline prices were cut by P4.43 to P4.50 per liter.

In separate advisories, oil firms announced the following price reductions:

Hotelier Africa names Nigerian HR expert among Africa’s top 15

A Nigerian human resource professional, Niyi Agoro, has been named among the Top 15 Hotelier HR Leaders in Africa for Q1 2026 by Hotelier Africa.

The recognition, announced under the Hotelier Africa Leadership Awards, honours executives driving human capital development and workplace culture across the continent’s hospitality industry.

Hotelier Africa said the award celebrates leaders ‘redefining human capital management and driving transformative workplace cultures’ in a fast-evolving sector.

Reacting to the recognition, Agoro expressed appreciation, describing it as both an honour and a call to greater responsibility.

‘I humbly extend my sincere appreciation to Hotelier Africa for this distinguished recognition as one of the Top 15 Hotelier HR Leaders in Africa – Q1 2026,’ he said.

‘This honour is deeply valued and serves as a strong motivation to continue driving excellence in human resource leadership, aligning talent strategies with business imperatives, and fostering high-performance cultures that support sustainable growth within the hospitality industry.’

The organisation noted that its awards platform aims to spotlight professionals who demonstrate excellence, innovation and resilience while promoting globally competitive standards within African hospitality.

Agoro, according to industry peers, has built a reputation for aligning workforce strategy with organisational goals, with a focus on strengthening institutional practices and improving productivity within hotel operations.

‘I am truly grateful for this acknowledgement and remain committed to advancing transformative HR practices that empower people, strengthen institutions, and elevate industry standards across the continent and beyond,’ he added.

The recognition comes at a time when Africa’s hospitality sector continues to recover and expand, amid evolving workforce demands and increased competition for skilled labour.

Industry data indicate that the sector remains a major employer, particularly for young people, even as operators contend with talent retention and shifting workplace expectations.

Hotelier Africa said its Q1 2026 list underscores the growing role of human resource leadership in building sustainable and competitive hospitality businesses across the continent.

With the latest recognition, Agoro joins a select group of professionals acknowledged for shaping talent management and organisational culture within Africa’s hospitality industry.

UAE seeks dollar backstop from US amid war jitters, raising questions over petrodollar stability

Authorities in the United Arab Emirates held talks last week with the United States over a potential financial ‘lifeline’ in case tensions linked to the conflict with Iran escalate further, AzerNEWS reports.

According to the Wall Street Journal, the meeting involved UAE Central Bank Governor Khaled Mohamed Balama, US Treasury Secretary Scott Bessent, and representatives of the Federal Reserve System. Discussions reportedly focused not on a loan, but on a pre-approved currency swap arrangement.

UAE officials described the move as precautionary, stressing that the situation is not yet critical. However, they acknowledged that recent Iranian strikes have inflicted significant economic damage.

‘They also believe that President Donald Trump’s decision to attack Iran has drawn their country into a destructive conflict, the consequences of which have not yet been fully resolved,’ the report said, citing sources. ‘They have told US officials that if the UAE does not have enough dollars, they will be forced to use yuan or other currencies for transactions.’

Such a shift could have broader implications for the global financial system, where the US dollar remains dominant, particularly in energy markets, where most oil contracts are denominated in dollars.

The report notes that the UAE currently does not have a standing swap line with the Federal Reserve, and it remains unclear whether such a request would be approved. Existing arrangements are typically reserved for close US partners, including Mexico, Canada, Brazil, the European Union, and more recently Argentina.

The issue comes amid heightened financial activity in the Gulf. The Financial Times recently reported that Persian Gulf states have increased debt issuance, taking advantage of a temporary ceasefire to secure funding through both sovereign and state-backed channels.

The Emirati dirham, which is pegged to the US dollar, is supported by reserves of around $270 billion. However, the ongoing conflict has put pressure on the currency due to capital outflows, market volatility, and broader economic uncertainty.

284 million workers still in extreme poverty -ILO

Global labour markets remain broadly stable, but millions of workers continue to face deep structural challenges, the Director-General of the International Labour Organisation (ILO), Gilbert F. Houngbo, has said.

Speaking at the ongoing International Monetary Fund (IMF) and World Bank Spring meetings in Washington, D.C., Houngbo said persistent deficits in decent work are undermining social cohesion and economic resilience.

‘The deeper challenge is one of work quality and structural transformation,’ he said. ‘Some 284 million workers continue to live in extreme poverty, while 2.1 billion workers, nearly 58 per cent of the global workforce, remain in informal employment.’

He noted that despite steady unemployment levels and continued economic growth into early 2026, labour markets remain fragile.

Houngbo identified rising sovereign debt, limited fiscal space, and heightened global uncertainty as key factors constraining governments’ ability to support workers and strengthen labour systems.

He also warned that the ongoing conflict in the Middle East is worsening existing vulnerabilities in the global economy and labour markets.

‘The Middle East conflict is not an isolated shock superimposed on an otherwise stable global economy,’ Houngbo said. ‘It is compounding pre-existing vulnerabilities and increasing the likelihood of more severe and lasting effects on the world of work.’

According to him, countries directly affected by the conflict are experiencing infrastructure damage, business disruptions, displacement, and insecurity, with negative consequences for jobs and incomes.

He added that the impact is spreading beyond the region through disruptions to energy markets, trade, and supply chains, affecting wages, working conditions, and employment in other economies.

Houngbo said low-income households, informal workers, migrant workers, and small enterprises are among the most affected, warning of increased risks of child labour, forced labour, and other decent work deficits.

He called for urgent policy measures to protect workers and strengthen labour markets.

‘Effective social protection, support for livelihoods, and active labour market policy measures are essential to prevent vulnerable workers and households from sliding further into insecurity,’ he said.

Houngbo further urged governments to preserve fiscal space for social protection and prioritise job creation and income security.

In conflict-affected countries, he said recovery and reconstruction efforts should integrate decent work principles, including labour rights, social protection, and fair working conditions.

He stressed that economic growth without decent job creation remains a major concern.

‘Where growth does not generate decent jobs, where informality remains pervasive, and where workers lack security, voice, and protection, societies become far more vulnerable to shocks,’ he said.

‘This is why the persistence of decent work deficits is not only an economic concern but also a rights concern.’

Vince Dizon, Vico Sotto inspect damaged F. Manalo Bridge in Pasig City

The Department of Public Works and Highways is aiming to finish the permanent rehabilitation of the damaged F. Manalo Bridge in Pasig City within one and a half years, citing right of way acquisition as one of the main concerns, its secretary Vince Dizon said on Tuesday.

The bridge was temporarily closed after being hit by barges during the onslaught of Typhoon Carina in 2024. Dizon said that its temporary reconstruction was shouldered by the Japanese contractor, which lasted for a year.

Dizon also said that Pasig City Mayor Vico Sotto asked the agency to fasttrack the permanent construction of the bridge. With this, Dizon said that it will be widened from two lanes to four lanes.

‘That is our commitment to Pasig City and Quezon City and to the people of Pasig and QC. Hopefully, we finish this in one year, one and a half years,’ Dizon told reporters in an interview as he and Sotto inspected the bridge.

Dizon shared that the agency is facing problems with right of way acquisition of 100 meters on the part of Quezon City. He added that while the agency has already started addressing the problem, the owner of the land is contesting the acquisition.

‘We’ll have to either negotiate but if they don’t really want to, we’ll have no choice but to expropriate,’ Dizon added.

He also shared that the government will try to source for additional funding of P700 million for the completion of the bridge from the 2026 or 2027 budget.

Start of rainy season

Dizon also said that the construction of a temporary bridge will not bring much adverse effects to motorists and residents at the start of the rainy season. However, he said that the current state of the bridge limits the moving capacity from Pasig City to Quezon City.

‘We will not allow this bridge to be closed. Like I said, this should only be closed when there are fewer people in Metro Manila, [like during] Holy Week, Christmas. This should not be closed on ordinary days,’ he expressed.

The Pasig City Public Information Office earlier announced the temporary closure of the bridge from April 17-20 for maintenance works, speed humps replacement, repair of vertical clearance barrier, and installation of rubber plates.