Hopes for easing transport costs were dashed this week as diesel prices rebounded, joining another increase in gasoline that will push pump prices higher.
Energy Secretary Sharon S. Garin announced Monday that gasoline prices will rise by P2.21 per liter starting today. Pump prices are estimated to reach as high as P107.11 per liter for higher-grade gasoline.
Meanwhile, diesel — widely used by public utility vehicles and the logistics sector — will increase by P2.66 per liter, reversing earlier expectations of a decline.
Higher fares, prices of goods
Prices are projected to climb to as much as P102.16 per liter, adding pressure on transport operators and potentially feeding into higher fares and goods prices.
Diesel Plus will see the same P2.66 per liter hike, with prices estimated to reach up to P107.48 per liter.
In contrast, kerosene will offer limited relief, declining by P3.53 per liter, with pump prices ranging between P124.97 and P146.47 per liter.
The Department of Energy (DoE) noted that these estimated price ranges are based on monitoring in Metro Manila and other highly urbanized areas.
“The market shows a slight calmness compared to last week and the two weeks previous to that. Now it seems that it is steadying at a certain pace, and hopefully it stays like that, but the DoE cannot give assurance. The numbers we have are based on the international prices, not within the control of our country or even the industry players,” Garin said.
Fuel supply stable
Despite rising prices, the country’s fuel supply remains stable.
Based on data from the DoE’s Oil Industry Management Bureau, the country maintains a comfortable level of petroleum reserves, with total inventory equivalent to 53.71 days of supply as of 1 May.
Gasoline and diesel, two of the most widely used fuels for transport and industry, both remain above the 50-day mark.
Diesel, which accounts for the largest share of demand, has 54.58 days of supply, while gasoline stands at 52.64 days.
Kerosene recorded highest buffer
Among petroleum products, kerosene recorded the highest buffer at 166.67 days, largely due to its relatively low daily demand.
Other fuels also show healthy reserve levels. Jet fuel and fuel oil posted inventories of 71.14 days and 62.69 days, respectively, supporting aviation and power generation requirements.
In contrast, liquefied petroleum gas (LPG), commonly used by households, recorded the lowest inventory at 40.46 days.
While still within safe operating thresholds, LPG typically maintains a shorter supply window due to higher turnover and distribution patterns.