New round of oil price hike seen on May 19

Price hike for gasoline, diesel starting May 19 as fuel supply drops to 45 days

MANILA, Philippines – Pump prices for diesel and gasoline are set to increase this week while kerosene prices are expected to roll back, the Department of Energy (DOE) announced on Monday, May 18. Beginning Tuesday, May 19, diesel prices will be raised by around P2.82 per liter while gasoline prices will increase by P1.21 per liter. Meanwhile, kerosene pump rates will drop by at least P2.21 per liter. Image from Department of Energy Energy Secre…

Diesel, gasoline prices to go up May 19

MANILA, Philippines — The Department of Energy on Monday said that diesel and gasoline prices will go up on Tuesday, May 19, due mostly to the market reacting to developments in the Middle East.The agency said that diesel prices will be raised by up to P2.82 per liter, while gasoline prices will increase by up to P1.21 per liter.Meanwhile, the cost of kerosene will be lowered by up to P2.11 per liter.Last week, oil companies rolled back diesel p…

New round of oil price hike seen on May 19

Oil prices are expected to push local pump prices higher again next week, on May 19, with diesel likely to post the steepest increase amid renewed geopolitical tensions in the Middle East. Industry estimates showed that diesel prices may rise by around ₱2 to ₱2.50 per liter, while gasoline prices could go up by about ₱0.75 to ₱1.25 per liter in the coming week. The anticipated adjustment follows another surge in global crude prices after fresh c…