Fuel Prices to Drop on May 6 After Two Weeks of Increases

Good news for motorists—fuel prices are set to go down this Tuesday, May 6, following two straight weeks of price hikes.

In separate announcements on Monday, Chevron (Caltex), Seaoil, and Shell confirmed that they will slash pump prices by ₱0.55 per liter for gasoline, ₱0.65 for diesel, and ₱0.90 for kerosene. Cleanfuel will apply the same price cuts for gasoline and diesel but does not carry kerosene.

The new prices will take effect at 6 a.m. on Tuesday for most fuel providers. Cleanfuel’s adjustments will start a bit later at 8:01 a.m. the same day.

The rollback follows projections from the Department of Energy’s Oil Industry Management Bureau (DOE-OIMB), which cited global oversupply concerns and the potential economic effects of recent U.S. tariff policies as factors affecting oil demand.

Last week, prices rose by ₱1.35 per liter for gasoline, ₱0.80 for diesel, and ₱0.70 for kerosene. As of April 29, total year-to-date adjustments show a net increase of ₱3.65/liter for gasoline and diesel, and a net decrease of ₱1.10/liter for kerosene.