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Manila Bulletin devider Business devider The Economy devider Fuel prices to rise as national buffer stocks face sharp decline

Fuel prices to rise as national buffer stocks face sharp decline

Published May 18, 2026 03:50 pm
A rider fills up his tank ahead of a predicted “big-time” fuel price hike. Domestic oil firms are expected to implement double-digit increases starting Tuesday, potentially pushing diesel prices to a near-historic ₱166 per liter. (Photo by Mark Balmores I MB)
A rider fills up his tank ahead of a predicted “big-time” fuel price hike. Domestic oil firms are expected to implement double-digit increases starting Tuesday, potentially pushing diesel prices to a near-historic ₱166 per liter. (Photo by Mark Balmores I MB)
Motorists will need to ease up on the gas pedal as gasoline and diesel prices are expected to increase this week amid renewed geopolitical tensions.
The Department of Energy (DOE) reported that gasoline prices will increase by ₱1.21 per liter, while diesel will go up by ₱2.82 per liter.
Kerosene, on the other hand, will go down by ₱2.21 per liter.
Price adjustments vary depending on the oil company, with movements set to change on Tuesday, May 19.
According to Energy Secretary Sharon Garin, the country’s total available supply has dropped to 45.33 days compared to its previous data of over 53 days during the first week of May.
Gasoline’s overall buffer stock as of last week stood at 46.85 days, while diesel is at 45.74 days. Kerosene remains the largest amount of fuel supply at 152.12 days.
Liquefied petroleum gas (LPG) or cooking gas, has reached 30.21 days.
The DOE has yet to procure any new supply from other countries, noting that the inventory remains at a “comfortable” amount.
No price shocks expected
As prices at the gas pumps elevate, Energy Undersecretary Rowena Guevara explained that power rates could be impacted further due to the effects of last week’s continuous power fluctuations.
Last week, Luzon and Visayas were faced with yellow and red grid alerts due to power plant trippings and transmission line issues, prompting a series of manual load droppings (MLD) or rotational brownouts.
“Because we’re on red alert, we had to run the more expensive power plants, [like the diesel],” she said, noting that it was an all-hands-on-deck situation to provide sufficient power supply to the two regions to meet the aggressive power demand during the summer season.
“Potentially, there could be [power rate] increases if ever, but these are very small plants… So, there was less megawatts added in our generation mix during Wednesday, Thursday, Friday.”
Moving forward, the DOE expects the El Niño to transition into the rainy season soon and is projecting an increased output from hydropower plants.
Energy Undersecretary Felix William Fuentebella said that they are expecting several yellow alerts for Visayas in the near future, as red alerts will be less likely to persist.
“For Mindanao, we are seeing zero red alerts, but six yellow alerts for the months of September, October, November,” he added.

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DOE OIL PRICE HIKE gasoline Diesel Electricity bills
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