Effective today, Tuesday, May 26, 2026, a new round of oil price hikes will tighten the belts of motorists. According to the Department of Energy (DOE), the following price increases per liter of petroleum products have been implemented: diesel by P1.96 per liter, gasoline by P1.60 per liter, and kerosene by P1.45 per liter.
Reasons for the Price Increase
The rise in petroleum product prices is attributed to tight supply in the global oil market. Some supply from Asia may be diverted to other regions due to reduced production in Europe.
Previous Week's Adjustments
Last week, gasoline prices increased by P1.21 per liter and diesel by P2.82, while kerosene decreased by P2.11. As a result, the net increase since the start of the year has reached P48.12 per liter for gasoline, P44.84 for diesel, and P39.05 for kerosene.
Fuel Inventory Status
According to the DOE, the country's total fuel inventory stands at 44.82 days, slightly lower than the 45.33 days recorded last week.
