Fuel prices will increase again on Tuesday, May 5, with diesel rising by P2.66 per liter and gasoline by P2.21 per liter, Energy Secretary Sharon Garin said. Kerosene prices will decline by P3.53 per liter.
MANILA, Philippines — Energy Secretary Sharon Garin announced gasoline prices will increase by P2.21 per liter and diesel by P2.66 per liter on Tuesday, May 5. She attributed the hikes to the peso's weakening to an all-time low of 61.567 against the dollar last week, exerting upward pressure on oil prices.
Kerosene prices will decline by P3.53 per liter, while LPG rose by P1.22 per kilo, adding about P13.42 to an 11-kilo cylinder. In Metro Manila and highly urbanized areas, gasoline now sells for as much as P102.16, diesel P107.11, and kerosene P146.47 per liter.
"Now, it seems like it’s steadying at a certain pace and hopefully, it stays like that," Garin said. The Department of Energy cannot guarantee minimal price movements every week. This ends three consecutive weeks of diesel rollbacks.
As of May 1, fuel stocks suffice for 53.71 days on average, with gasoline at 52.64 days, diesel 54.58 days, and LPG 40.46 days, DOE data shows. "We have 53 days on average to find replenishment for what we consume," Garin noted.
The DOE is not planning additional diesel purchases due to storage limits. "At the moment, there’s no need to place another order. First, there is already enough supply. Second, even if we add more, we don’t have storage facilities," she said. All four Philippine National Oil Co. shipments, delivering over 178.33 million liters of diesel, have arrived.
