Marilyn Cahatol

Fuel prices are displayed at a gasoline station in Quezon City on April 7, following another round of fuel price hikes. Oil companies raised gasoline prices by as much as P5.90 per liter and diesel by up to P19.80 per liter, marking one of the largest increases in recent weeks. Maria Tan, ABS-CBN News

Article (news)

OIL PRICE HIKE

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px;display:block" width="960"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/177940664992520260407-oil-price-hike-quezon-city-MT2.jpg" style="width:960px" class="fr-fic fr-dib" width="960"/><span class="fr-inner" style="text-align:left">Fuel prices are displayed at a gasoline station in Quezon City on April 7, following another round of fuel price hikes. Oil companies raised gasoline prices by as much as P5.90 per liter and diesel by up to P19.80 per liter, marking one of the largest increases in recent weeks. <em>Maria Tan, ABS-CBN News </em></span></span></span></div><p>MANILA — The prices of gasoline, diesel and kerosene are expected to increase by P1.00 to P1.50 next week based on the fourth day of trading in the Mean of Platts Singapore, the Department of Energy said Friday, May 22.</p><p>This is a peso lower than the projected price increases based on the <a href="https://www.abs-cbn.com/news/business/2026/5/21/upper-wawa-dam-to-add-water-supply-amid-looming-el-ni-o-2315">first two days of trading. </a><a href="https://www.abs-cbn.com/news/business/2026/5/21/upper-wawa-dam-to-add-water-supply-amid-looming-el-ni-o-2315"> </a></p><p>DOE Oil Industry Management Bureau director Rino Abad explained that diesel lowered from $163 to $156 per barrel on the fourth day of trading. He said the projected increase may lessen further by P0.50 should the last trading day show consistent price movement.</p><p>Meanwhile, Abad said 970 gasoline stations have so far joined the government’s P10 diesel subsidy program, used to cushion the impact of the <a href="https://www.abs-cbn.com/news/business/2026/5/19/subsidized-puv-fares-to-end-this-week-ltfrb-1703">expiring subsidized service contracting program </a>for land-based public utility vehicles (PUVs).</p><p>This number is still increasing and may reach more than 1,000 stations next week, as the agency continues to visit and train them on the system used for the subsidy program.</p><p>“Tinuturuan ho kasi doon sa system ng Land Bank ang bawat gasoline station. Kailangan lang mag-open ng Land Bank account or mag-nominate ng other account from other bank at magkaroon ng tarpaulin,” Abad said.</p><p>The director noted that the agency plans to use the system as the standard platform for future subsidies, instead of the traditional cash distribution system.</p><div><br/></div><div><strong>RELATED VIDEO:</strong></div><div style="text-align:center"><iframe width="560" height="315" src="https://www.youtube.com/embed/gPxIZ7Fq-vg?si=ZoGnKYL5xkYyX39F" title="YouTube video player" frameBorder="0" allowfullscreen=""></iframe></div>

<p>The prices of gasoline, diesel and kerosene are expected to increase by P1.00 to P1.50 next week based on the fourth day of trading in the Mean of Platts Singapore, the Department of Energy said Friday, May 22.</p>

The prices of gasoline, diesel and kerosene are expected to increase by P1.00 to P1.50 next week based on the fourth day of trading in the Mean of Platts Singapore, the Department of Energy said Friday, May 22.

Oil prices could go up by P1.50 next week—DOE

News

Entertainment

Lifestyle

Sports

Metro.Style

More

BINI

Sudoku

Word of the Day

Lotto

Horoscope

Business

Oil prices could go up by P1.50 next week—DOE

Marilyn Cahatol,

ABS-CBN News

Published May 22, 2026 07:49 AM PHT

Read More:

Oil prices

Department of Energy

diesel discount

ABS-CBN Newsletter

Your go-to source for the latest news, entertainment highlights, exclusive interviews, and updates on your favorite Kapamilya stars.

ABS-CBN Newsletter

Your go-to source for the latest news, entertainment highlights, exclusive interviews, and updates on your favorite Kapamilya stars.

Sign Up

I have read and agree to the Terms and Privacy Policy.

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.