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Filipino drivers will benefit from a notable decrease in diesel prices beginning May 12. The Department of Energy (DOE) announced that fuel retailers will lower diesel prices by P9.57 per liter.
In addition, kerosene prices will decline by up to P13.30 per liter, offering relief to consumers. However, those using gasoline will face a slight increase of up to P0.47 per liter.
These adjustments come amid ongoing fluctuations in global oil markets, highlighting the volatility in fuel pricing.
The DOE previously indicated that during a national energy emergency, the government may step in to regulate fuel prices, capping increases and mandating minimum rollbacks.
The government may intervene to temper fuel price spikes.
Department of Energy