The fluctuation of local fuel prices continues as big and small oil firms imposed price hikes reaching P1 a liter on pump on Tuesday.

Leading the price adjustment this week was independent player Seaoil Philippines, which jacked up prices of diesel and kerosene by P1 a liter. The company also added P0.75 a liter on regular gas and another P0.50 a liter on premium and unleaded gas.

Seaoil enforced its set of increases at 6 a.m. Tuesday. At around the same time, major oil player Chevron Philippines (formerly Caltex) increased its gasoline prices by P0.50 a liter.

Chevron, however, did not announce any price tweak on their other petroleum products.

Meanwhile, Eastern Petroleum Philippines, another independent oil company, said that it would join the wave of fuel price hikes.

“Within the day (Tuesday), Eastern Petroleum will match whatever will be the common increase,” company President Fernando Martinez told the Manila Bulletin/Tempo in a text message.

Other oil firms have yet to announce price adjustments as of press time, although they are expected to follow suit.

With the latest hike, the average retail prices of fuel products in Metro Manila are now as follows: P44 for gasoline (unleaded); P34.50 for diesel, and P44 for kerosene.

Pump prices have continued to yo-yo the past few weeks — last August 3, a P0.25-liter rollback was imposed on premium gas, unleaded gas, diesel and kerosene by the oil firms. Regular gas, on the other hand, was hiked by P0.25 a liter.

Before that, small and big oil firms imposed sweeping price hikes which raised their respective gasoline prices by P1 a liter, and diesel and kerosene prices by P1.25 a liter.

In contrast, prices of liquefied petroleum gas (LPG) have been going down steadily the past few months, thanks to successive rollbacks on the part of the LPG Marketers Association (LPGMA).

The LPGMA also made official on Tuesday a P0.50 per kilo price cut on their products, translating to a P6-reduction for every 11-kilo cylinder of cooking gas.

The group, composed of independent LPG retailers, also imposed a similar rollback last August 2.