SQL queries and PHP statements have nothing to do with each other.
As bubblenut said, worrying about which of several PHP constructs might be faster is entirely the wrong thing to do. First, write clean code. There is a saying: "Premature optimization is the root of all evil."
Your bottlenecks are likely to be related to i/o operations.
Worrying about database performance IS the right thing to do, but it's not so much a matter of how you construct your queries (the database can optimize that), but rather how you construct your data model and index your tables.