Despite estimates from the Mean of Platts Singapore indicating minor to moderate price hikes for fuel this week, the adjustments called for by the Department of Energy (DOE) are much larger than expected.
For the week of May 26 to June 1, 2026, gasoline prices will hike by P1.60 per liter, with diesel prices also going up by P1.96 per liter. Kerosene prices will also see a hike of P1.45 per liter this week.
The DOE’s announcement on fuel price movements yesterdat came later than usual, being published in the evening. Journalist Alvin Elchico reported that the department called for an emergency meeting with the country’s oil players earlier in the afternoon to discuss a P10 per liter premium previously unfactored in the price movements of fuel. As a result, this premium will be gradually reflected in the price movements of coming weeks, starting with this round of hikes.
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A press conference or release is expected in the coming days to further explain the situation to the general public. The DOE also published an updated figure for the country’s estimated fuel supply. The Philippines currently has around 41 days worth of diesel, and around 45 days worth of gasoline. Across all fuel types, the country’s supply can last for 44 days.
Number from the Chamber of Automotive Manufacturers of the Philippines’ latest report confirmed the continued decline of vehicle sales, based on data gathered from April. Compared to the same point in the calendar last year, sales have slumped by 11.4%. However, the remaining sales volume showed clear growth for electrified options, especially hybrids.
The Philippine International Motor Show kicks off next week, with brands in attendance expected to highlight their electrified offerings. Earlier this year, the Manila International Auto Show also leaned heavily into electric mobility, attracting record attendance numbers as the fuel crisis continues to shape the automotive industry.
