Margie Markland
  
After a round of big-time reductions, oil firms are set to increase prices in the first week of September while the Philippines grapples with the effects of Tropical Storm Enteng and the southwest monsoon. 

Photo Courtesy of Gab Ibis/ExplainedPH.

In separate advisories released Sept. 2, Chevron Philippines Inc. (Caltex), Petron Corp., Seaoil Philippines Corp., and Shell Pilipinas Corp. said they will increase prices per liter of gasoline by P0.50, diesel by P0.30, and kerosene by P0.70.

Cleanfuel, Petro Gazz, PTT Philippines Corp., and Unioil Petroleum Philippines Inc. will implement the same changes, excluding kerosene which they do not do not carry.

The Department of Energy-Oil Industry Management Bureau earlier projected upward adjustments for the week, citing a combination of escalating geopolitical tensions and a sudden halt in Libyan oil production and exports.

They also said oil prices have gone up in international trading, with the contract price increasing by $50 per metric ton,  which translates to around a P2 per kilo increase in the retail market.

Oil firms from August 27 to September 1 rolled back prices per liter of gasoline by P1.15, diesel by P1.90, and kerosene by P1.80.

The fuel prices spiked in the midst of Enteng’s onslaught in the country, where widespread flooding has been reported in several areas within and outside Metro Manila.

Other firms have yet to make similar announcements as of writing.