Motorists in the Philippines can expect relief at the pump as diesel and kerosene prices will decrease starting May 12. The Department of Energy (DOE) confirmed that local oil companies will implement significant reductions.
Diesel prices will drop by at least P9.57 per liter, while kerosene will see a reduction of P13.30. This adjustment comes as a welcome change for many consumers facing rising living costs.
In contrast, gasoline prices will increase by P0.47 per liter, adding to the financial burden for some drivers.
Government Response to Fuel Price Changes
The DOE has the authority to regulate fuel prices, especially under a declared national energy emergency. This includes the ability to limit price hikes and mandate minimum rollbacks.
The Department of Energy's adjustments reflect ongoing fluctuations in the global oil market.
Department of Energy