OIL companies implemented another round of oil price increases reaching as much as 90 centavos per liter.

At exactly 6 a.m yesterday major oil players Pilipinas Shell, Petron Corp. and Chevron Philippines (formerly Caltex) increased its respective prices of diesel and kerosene by P0.90 per liter, regular gasoline by P0.70 per liter and premium (including unleaded) by P0.50 per liter.

Total Philippines also adjusted its pump prices at 6 a.m. yesterday except for kerosene, according to company communications officer Iris Reyes.

Eastern Petroleum Philippines, an independent player, raised its diesel and kerosene by P0.90 per liter, regular by P0.70 per liter and unleaded by P0.50 per liter effective 12:01 a.m. Tuesday.

The recent price movement in the international market was cited as reason for the latest price hike.

The same oil firms, except for Eastern Petroleum, hiked pump prices twice last week, resulting in an accumulated increase of P1.80 per liter on unleaded, P1.50 per liter on diesel and P1.30 per liter on regular.

Eastern, for its part, implemented a one-time hike worth P1.75 on gasoline and P1.50 on diesel and kerosene.

Tuesday’s adjustment marked the fourth fuel price increase so far this year. It likewise jacked up the average retail prices in Metro Manila to the following levels: diesel, P46; unleaded, P53.50 and kerosene, P54.50.

Last week, Energy Secretary Jose Rene Almendras clarified that oil supply in the country remained “normal” even as the international community continued to worry over Iran’s threat to blockade the Strait of Hormuz—a strategic waterway where one-sixth of the world’s oil exports pass daily.

“Our supply is normal; fuel continues to flow. Mahal nga lang (It’s expensive, though),” Almendras said.

An opposition lawmaker meanwhile has appealed to President Benigno Aquino III to also give attention to the continued increase in the prices of oil products besides the impeachment trial of Chief Justice Renato Corona.

Following another round of oil price increases, Zambales Rep. Mitos Magsaysay asked the government to have the Department of Energy look for effective ways to lower the cost of petroleum products.

“The prices of oil in the country has risen roughly three or four times from the beginning of this year alone. If this continues for the next couple of months, how long will it be before public utility vehicles raise protests on the streets and demand increased fares? How will they be able to cope with their daily expenses when all of their hard work only goes to boundaries and gasoline?” Magsaysay said.    With Jester P. Manalastas