MANILA, Philippines — Fuel prices are set for another round of adjustments on Tuesday, May 19, with motorists expected to pay more for gasoline and diesel but less for kerosene.
The Department of Energy (DOE) said gasoline will increase by P1.21 per liter, while diesel may climb by as much as P2.82 per liter. Kerosene prices will decline by at least P2.21 per liter.
DOE Secretary Sharon Garin explained that the price movements are part of ongoing efforts to stabilize fuel pricing under the government’s energy emergency declaration, which grants authority to regulate petroleum price swings.
According to Garin, the measure is intended to create “more predictable and uniform adjustments” among oil companies operating in the country.
Market observers said the latest hikes were influenced by rising geopolitical risks in key oil-producing areas, which continue to affect global supply expectations.
IA/XF
