Motorists will face another round of fuel price hikes this week as the Department of Energy announced adjustments effective Tuesday, 26 May, through 1 June, citing continued tensions in the Middle East affecting global oil prices.
In an advisory posted on its Facebook page Monday, the DOE said diesel prices will increase by P1.96 per liter, gasoline by P1.60 per liter and kerosene by P1.45 per liter.
The agency said the adjustments were driven by movements in the global oil market.
The latest increases follow last week’s fuel price adjustments, when gasoline prices rose by P1.20 to P1.21 per liter and diesel prices increased by P2.80 to P2.82 per liter. Kerosene prices, however, declined by P2.11 per liter during the same period.
“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,” the DOE said.
The DOE added that it continues to implement measures to protect consumers and ensure fuel supply stability in the country. As of 22 May, the agency said the Philippines has enough fuel supply to last 44.82 days.
