Audio problem: When policemen are pursuing the Phantom in the park, their motorcycle tyres makes sounds and sparkles on the ground as if it was asphalt, but it's dirt.

The Phantom (1996)
Ending / spoiler
Directed by: Simon Wincer
Starring: Catherine Zeta-Jones, Billy Zane, Treat Williams, Kristy Swanson
The Phantom (Billy Zane) defeats Xander Drax with the fourth skull (which is his Phantom skull ring) and he recovers his father's Phantom skull belt. Phantom tells Diana the story about the origin of The Phantom and how the tradition is passed on. Diana figures out on her own that Kit Walker is The Phantom and he talks about marriage. Diana leaves Bengala with Catherine Zeta Jones but she promises to return.
il Postino
The Great Kabai Sengh: You're not immortal. I know your secrets, Phantom.
The Phantom: Take them to your grave, Kabai Sengh.
Trivia: The film was originally written as a bit of a comedic spoof of superhero and adventure stories by "Gremlins" director Joe Dante and famed screenwriter Jeffrey Boam. Dante was planning on directing it. However, the movie was paused due to budget concerns, and Dante left the project. When it was put back into production, the script was re-written by several ghost writers, and director Simon Wincer decided to play the comedy 100% straight, which original director Dante felt was a huge mistake.
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Chosen answer: The explosions from the skulls and the weapons on the island caused the volcano to erupt.
LorgSkyegon