Motorists will experience a heavier burden at the pump as oil companies implement another round of fuel price hikes on Tuesday, May 26, driven by volatility in the international market.
According to an advisory from the Department of Energy (DOE), diesel prices will increase by ₱1.96 per liter, gasoline by ₱1.60 per liter, and kerosene by ₱1.45 per liter.
This week’s upward adjustments follow a hefty price surge last week, where gasoline rose by up to ₱1.21 per liter and diesel spiked by as much as ₱2.82 per liter, though kerosene saw a temporary reprieve with a ₱2.11 per liter rollback.
The energy department attributed the continuous fluctuations to ongoing geopolitical conflicts in the Middle East, which have directly impacted global oil production and pricing structures.
“Ang mga pagbabagong ito ay nakabatay sa galaw ng pandaigdigang merkado ng langis, sa gitna ng patuloy na kaganapan sa Middle East na nakakaapekto sa global supply at presyo,” (These changes are based on the movements in the global oil market, amid the ongoing developments in the Middle East that affect global supply and prices), the DOE stated.
Despite the volatile market conditions, the DOE assured the public that measures are being actively implemented to safeguard local consumers and stabilize domestic reserves.
As of May 22, the country maintains a sufficient fuel inventory capable of lasting 44.82 days.