More oil companies, both major and independent, implemented price adjustments on their petroleum products on Tuesday morning.

Oil giants Petron Corp. and Chevron Philippines (formerly Caltex) made official at 6 a.m. on Tuesday a P0.25-liter rollback on their respective prices of premium gasoline, unleaded gasoline, diesel and kerosene.

The price of regular gasoline, on the other hand, was raised by P0.25 a liter.

Independent oil player Eastern Petroleum Philippines also implemented a P0.25-liter reduction on all their fuel products except for regular gasoline. When asked if the company hiked its price for regular gasoline like its rival firms, Eastern Petroleum President Fernando Martinez said they purposely kept it at the same level.

“We just maintained the price of regular gas,” said Martinez, who is also chairman of the Independent Philippine Petroleum Marketers Association (IPPCA).

Another small player and IPPCA member, Flying V, on Monday night said that it would enforce an adjustment of the same increment. Meanwhile, Phoenix Petroleum Philippines reduced its diesel and gasoline prices by P0.25 per liter effective 10 a.m.

With the latest price tweaks, the average retail prices of fuel in Metro Manila are now as follows: P43 for gasoline (unleaded); P34 for diesel and P43 for kerosene.

Big and small oil firms imposed sweeping price hikes the past two weeks, resulting to accumulated increases worth P1 on gasoline and P1.25 on both diesel and kerosene.

On Tuesday midnight, major oil player Pilipinas Shell trimmed P0.25 a liter off all fuel prices except for regular gas, which was hiked by P0.25. The company also rolled back P1 a kilo on its liquefied petroleum gas (LPG) product Shellane, which was later matched by Petron with its own LPG brand Gasul.

The LPG Marketers Association (LPG), a group composed of independent cooking gas sellers, also slashed P0.50 a kilo off their product prices. The LPGMA said it is eyeing two more half-peso cutbacks this month, due to the $25 per metric ton drop in world contract prices for August.

For LPG, independent retailers such as Island Gas, Regasco Gas, Pinnacle Gas, Cat Gas, M-Gas, Omni Gas and Nation Gas currently have a suggested retail price (SRP) of P526 per 11-kilo cylinder.

On the other hand, Shellane and Gasul on Tuesday sold between P565 and P600, depending on the location of the retail station.