MOTORISTS face another increase in pump prices this week, as major oil companies announced new adjustments marking the second consecutive week of hikes for gasoline.
Effective 6:00 a.m. on Tuesday, May 5, 2026, Petron Corp., Seaoil Philippines Corp., and Shell Pilipinas Corp. will raise gasoline prices by ₱2.21 per liter and diesel by ₱2.66 per liter.
In contrast, kerosene prices will go down by ₱3.53 per liter. Cleanfuel and Unioil Petroleum Philippines Inc. will apply the same rates for gasoline and diesel, though they do not carry kerosene products. Other industry players are expected to make their own announcements in the coming days.
Energy Secretary Sharon Garin had previously warned of possible price movements, attributing the upward trend largely to the weakening Philippine peso. Last Thursday, the local currency hit an all-time intraday low of ₱61.75 against the US dollar, following a record closing low of ₱61.567 the day before. The depreciation makes imported oil products more expensive, which is directly reflected in local pump rates, adding financial pressure to consumers and businesses alike.
Latest data released by the Department of Energy on Monday showed that the country’s fuel supplies remain sufficient. Current average inventories are estimated to last 53.71 days overall, broken down as: 52.64 days for gasoline, 54.58 days for diesel, and 166.67 days for kerosene. Stocks of jet fuel can cover 71.14 days of demand, fuel oil for 62.69 days, and liquefied petroleum gas for 40.46 days, ensuring that supply shortages are not an immediate concern despite the price adjustments.
Last week’s adjustments presented a different trend: gasoline went up by ₱0.53 per liter, while diesel dropped significantly by ₱12.94 per liter and kerosene by ₱15.71 per liter. The reversal this week highlights the volatility of global oil markets and exchange rate fluctuations, which continue to shape local energy costs.
