Oil prices are set to increase again this week, as fuel companies announced another round of price hikes on Monday, May 4, 2026.
Price Adjustments Announced
In separate advisories, Seaoil Philippines Corp. and Shell Pilipinas Corp. announced that gasoline prices will go up by P2.21 per liter, while diesel will increase by P2.66 per liter. Meanwhile, kerosene prices will decrease by P3.53 per liter.
Effective Date
The price adjustments will take effect at 6:00 a.m. on Tuesday, May 5, 2026.
—
Reason for the Increase
Energy Secretary Sharon Garin attributed the price hike to the weakening of the Philippine peso against the US dollar, which hit a record low of P61.75 per dollar on Thursday.
Consumers are advised to adjust their fuel budgets accordingly as the upward trend in oil prices continues.
