MANILA, Philippines — Major oil player Petron Corp. trumpeted on Tuesday morning that it would not participate in Tuesday's fuel hike, but eventually announced a price increase on its products for Wednesday.

Petron, in an advisory sent Tuesday noon, bared that it would raise premium gasoline (including unleaded) by P0.90 per liter, regular gasoline by P0.60 per liter, diesel by P0.30 per liter and kerosene by P0.20 per liter. The hike takes effect at 12:01 a.m. Wednesday.

On top of the adjustments on pump, the company would also hike the price of its liquefied petroleum gas (LPG) product “Gasul” by P3 per kilo. AutoLPG, on the other hand, will also be increased by P1.88 per liter.

“These adjustments will not be implemented in CDO (Cagayan de Oro) and Iligan. This is to reflect movements in the international oil market,” the advisory read.