Gasoline prices stayed largely unchanged this week, remaining at their highest levels in nearly four years. The national average for regular fuel reached $4.49 per gallon as of May 18.
Gas prices were relatively flat nationwide, with regular gasoline down one cent and premium fuel holding steady compared to the prior week. The national average stood at $4.49 per gallon for regular and $5.45 for premium, according to recent data.
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The escalation of the Iran war is driving up oil prices and causing noticeable increases at German gas stations. Diesel now costs an average of 2.04 euros per liter, gasoline 1.94 euros. Politicians are calling for government interventions against rising fuel costs.
Gasoline prices in the US have risen to $3.88 per gallon amid the war between the United States, Israel, and Iran, approaching a key threshold where electric vehicles become cheaper to own than gas cars. Analysts say prices above $4 per gallon shift the total cost of ownership in favor of EVs, prompting consumer interest. However, barriers like charging infrastructure and upfront costs may slow adoption.
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From April 1, 2026, gasoline prices in Colombia rose by $375 per gallon, lifting the national average to $15,449. In Cali, prices are around $15,900, with diesel up $81 per gallon. The increase reverses prior cuts timed with legislative elections, prompting political debate.
Fuel prices in the Philippines are expected to decline again this week, though on a smaller scale, according to Department of Energy estimates. Diesel could fall by P8 to P10 per liter, gasoline by around P0.40 per liter or rise up to P1 per liter, and kerosene by P11 per liter.
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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.
Fuel prices in Metro Manila remained unchanged at elevated levels over the Easter weekend, with diesel holding at P133.19 per liter—above the national average—as Filipinos returned from Holy Week holidays.
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Fuel prices in Brazil rose for the second consecutive week, according to ANP data released on March 13, 2026. Diesel saw an 11.8% increase, while gasoline rose 2.5%, reflecting the impacts of the war in Iran on international oil prices.