MANILA, Philippines—(UPDATE 3) Major oil players Pilipinas Shell, Chevron (formerly Caltex) and Petron will increase gasoline prices by P1 per liter effective Wednesday.

Chevron will also raise the price of E10, or ethanol blend, line by P1 per liter, communications manager Toby Nebrida said.

But officials of Shell and Petron separately announced they will also cut diesel prices by P0.75 per liter and kerosene by P1 per liter.

Shell and Chevron's price adjustments take effect a minute after midnight Wednesday.

Meanwhile, Petron's price adjustment will take place 6 a.m. Wednesday, said spokesman Virginia Ruivivar.

PTT Phil. will also raise the price of its gasoline products by only 50 centavos a liter, also effective at 12:01 a.m.

At 6 a.m. Wednesday, Total will hike its gasoline prices by P1 a liter, but will cut the price of diesel by 75 centavos a liter, and kerosene, by P1 a liter.

This is the third time this month that gasoline prices have been increased. Shell and Chevron have hiked their gasoline prices thrice for a total of P2.25 a liter.

By contrast, prices of diesel and kerosene have gone down for the fifth time this month.

Unioil Phil. led the P2-a-liter diesel and kerosene price rollback on Monday, followed by Eastern Petroleum which effected a P1 cut in its diesel and kerosene prices Tuesday.

Seaoil Phil. also slashes prices of its diesel and kerosene by P1 a liter effective 2 p.m. Tuesday while PTT reduced the prices of its diesel products only by P1 a liter, effective a minute after midnight last night.

With the latest price adjustment, Seaoil now sells its premium gasoline for P32.50 a liter; unleaded, P32; diesel P29.98; and kerosene, P37.75 a liter. Shell’s unleaded gasoline is priced at P34.32 a liter; E10, P33.57; diesel, P30.23; and kerosene, P34.80 a liter.

Eastern Petroleum gasoline now retails at P31.99 a liter; unleaded, P30.50; and diesel, P29.98 a liter.

According to data from the Department of Energy, the regional benchmark Dubai crude climbed to an average $46 a barrel as of January 26, from an average $41 a barrel last month.

The price of unleaded gasoline based on the Mean of Platts Singapore (MOPS) benchmark for refined petroleum products likewise increased to a $51-a-barrel average as of January 26, from its December average of $41 a barrel.

MOPS-based diesel remained flat at an average $61 a barrel in the January 1 to January 26 period, compared to the previous month’s level.