Starting May 12, gasoline prices are projected to rise by P1 to P4 per liter, according to industry sources. In contrast, diesel prices are expected to decrease by P6 to P8 per liter.
This week, retailers have already implemented price hikes, raising diesel by up to P2.66 and gasoline by P2.21 per liter. Official announcements regarding the new prices will be made by oil firms on Monday.
In response to the ongoing energy crisis, the Department of Energy has the authority to impose limits on price increases and dictate minimum rollbacks for petroleum products.
Impact on Motorists
These adjustments will significantly affect daily commuters and transportation services, as rising gasoline costs can increase overall expenses.
Motorists are advised to prepare for the upcoming price changes and consider alternative transportation options.
Industry Analyst