Major oil companies increased their pump prices Tuesday morning, following the lead of smaller firms that announced the new round of price hikes the day before.

Petron Corp. raised its prices for diesel, gasoline and kerosene by P1.50 a liter at 6 a.m. Tuesday, company spokesperson Virginia Ruivivar said.

Implementing a similar price adjustment was fellow oil giant Chevron Philippines. Chevron Communications Manager Toby Nebrida said the hike also took effect at 6 a.m.

Rounding up the “Big Three” oil was Pilipinas Shell, which earlier hiked its pump by the same increments at past midnight. At least 80 percent of the 3,900 gas stations in the country are controlled by the Big Three.

Total Philippines, considered the country’s fourth biggest oil player, added P1.50 to its retail prices of diesel and gasoline also at 6 a.m.

This week’s round of oil price hikes – the second since the lifting of Executive Order (EO) 839 or the Luzon fuel price freeze – was initiated by smaller players Flying V and Eastern Petroleum.

The same firms implemented the first of three advertised price increases last week, hiking prices by as much as P2 a liter.

Fernando Martinez, Independent Philippine Petroleum Companies Association (IPPCA) chairman, said they would have to add a total of P5 to their pump to recover the losses they incurred during the three-week price cap.

The recent adjustments have brought up the average price of diesel to P31 a liter and gasoline (unleaded) to P40 a liter.

Meanwhile, Malou Espina, Total corporate affairs manager, said the oil firm would now offer P2 per liter discounts to public utility vehicle (PUV) drivers as part of its calamity assistance program. The discount is available at 17 retail stations, Espina said.

As part of the condition to remove the price ceiling, Malacañang ordered local oil firms to give discounts in areas adversely affected by floods.

These include the cities of Marikina, Malabon, Pasig in Metro Manila; Baguio, Pangasinan, Benguet, Rizal, Ilocos Norte, Ilocos Sur, Mountain Province and the eastern portion of Laguna province.