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/177819665386420260407-oil-price-hike-quezon-city-MT6.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 — Motorists may expect a rollback in diesel and kerosene prices, while gasoline may go up next week, said the Department of Energy Friday. </p><p>Based on the four-day trade monitoring in the Mean of Platts Singapore, diesel and kerosene may go down by P9 and P12 per liter, respectively, while gasoline is expected to go up by P1.60 to P1.70 per liter.</p><p>DOE Oil Industry Management Bureau Director Rino Abad said oil is now going back to its normal market-based prices, before it was affected by the Middle East tensions that began February this year.  </p><p>He said the oil prices now fluctuate at around $70 to $95 per barrel, nearing the normal market-based prices of $55 to $65 per barrel.</p><p>“Medyo elevated pa, pero hindi na malayo,” Abad told DZMM Teleradyo.</p><div><a href="https://www.abs-cbn.com/news/business/2026/5/4/gasoline-diesel-prices-up-in-first-week-of-may-1515">Gasoline, diesel prices up in first week of May</a><br/><a href="https://www.abs-cbn.com/news/world/2026/5/8/us-and-iran-trade-fire-threatening-fragile-truce-0655">US and Iran trade fire, threatening fragile truce</a></div><div><strong>RELATED VIDEO:</strong></div><div style="text-align:center"><iframe width="560" height="315" src="https://www.youtube.com/embed/X6EJM6eO8Zk?si=bQi360JyADqzjNtp" title="YouTube video player" frameBorder="0" allowfullscreen=""></iframe></div>

<p>Based on the four-day trade monitoring in the Mean of Platts Singapore, diesel and kerosene may go down by P9 and P12 per liter, respectively, while gasoline is expected to go up by P1.60 to P1.70 per liter.</p>

Based on the four-day trade monitoring in the Mean of Platts Singapore, diesel and kerosene may go down by P9 and P12 per liter, respectively, while gasoline is expected to go up by P1.60 to P1.70 per liter.

Gasoline poised for fresh price hike; diesel, kerosene expected to go down next week

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Gasoline poised for fresh price hike; diesel, kerosene expected to go down next week

Marilyn Cahatol,

ABS-CBN News

Published May 08, 2026 07:40 AM PHT

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Oil prices

Department of Energy

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