This week, fuel prices in the Philippines continued to decline, with diesel prices dropping particularly significantly. Starting from May 13th, the domestic gasoline price in the Philippines has been reduced by 0.30 pesos per liter, which is slightly narrower than the decrease of 0.55 pesos per liter last week. The price of diesel dropped by 0.90 pesos per liter, further falling on the basis of a decrease of 0.65 pesos per liter last week. The price of kerosene also experienced a price correction of 1.25 pesos per liter.
These price adjustments will officially take effect from May 13, 2025. After this adjustment, since the beginning of the year, the gasoline price has risen by 2.80 pesos per liter cumulatively, the diesel price has risen by 2.10 pesos per liter cumulatively, while the kerosene price has net decreased by 3.25 pesos per liter.
The Department of Energy‘s Petroleum Industry Administration (DOE – OIMB) had previously predicted that due to the decision of the Organization of the Petroleum Exporting Countries (OPEC) to increase oil production in June and the uncertainty of the outcome of the China-Us trade negotiations, diesel and kerosene prices would decline by more than 1 peso per liter this week. The fluctuation of fuel prices not only affects the daily travel costs of the public, but also has a chain reaction on industries such as logistics and transportation.
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