Marilyn Cahatol

A jeepney driver refills his gas tank at a station in Manila on March 15, 2022. Motorists and commuters continue to struggle as oil prices continue to skyrocket. George Calvelo, ABS-CBN News

Article (news)

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/177950847761520220315-oil-price-hike-manila-GC-0301.jpg" style="width:960px" class="fr-fic fr-dib" width="960"/><span class="fr-inner" style="text-align:left">A jeepney driver refills his gas tank at a station in Manila on March 15, 2022. Motorists and commuters continue to struggle as oil prices continue to skyrocket.<em> George Calvelo, ABS-CBN News </em></span></span></span></div><p>MANILA — A slight increase in oil prices is expected in the last week of May.  </p><p>Based on the full week of trading on the global market, oil prices may increase by the following amounts:  </p><p>Diesel – P0.20/L increase </p><p>Gasoline – P0.50/L increase </p><p>Kerosene - P0.30/L decrease</p><div><br/></div><p>The following numbers may be reflected in local gasoline stations, with premium and other costs considered:</p><p>Diesel – P0.30-0.50/L increase </p><p>Gasoline – P0.70-0.90/L increase </p><p>Kerosene - P0.30-0.50/L decrease</p><p>The government earlier announced that a P10 per liter diesel discount subsidy is being rolled out nationwide to cushion the impact of the <a href="https://www.abs-cbn.com/news/business/2026/5/22/oil-prices-could-go-up-by-p1-50-next-week-doe-0749">expiring subsidized service contracting program</a> for land-based public utility vehicles (PUVs).</p><p>The Department of Energy said at least <a href="https://www.abs-cbn.com/news/business/2026/5/22/oil-prices-could-go-up-by-p1-50-next-week-doe-0749">970 gasoline stations</a> have so far joined the program. <strong>— Alvin Elchico, ABS-CBN News</strong></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=aUHb-RAt2MnRHYy_" title="YouTube video player" frameBorder="0" allowfullscreen=""></iframe></div>

Oil prices to go up slightly in last week of May

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Oil prices to go up slightly in last week of May

ABS-CBN News

Published May 23, 2026 12:11 PM PHT

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