Oil firms to cut pump prices

Posted at 12/03/2012 3:19 PM | Updated as of 12/03/2012 4:34 PM

MANILA, Philippines (UPDATE) - Oil companies are slashing pump prices on Tuesday. 

Eastern Petroleum, Shell and Seaoil announced they will cut the price of premium and unleaded gasoline by P0.60 per liter. 

Eastern is also reducing the price of regular gasoline by P0.40 per liter.

On the other hand, Shell and Seaoil said they are cutting the price of regular gasoline by P0.35 per liter and kerosene by P0.40 per liter. 

Eastern, Seaoi and Shell said the lower prices will take effect at 12:01 a.m., Tuesday.

There is no price adjustment for diesel. - With report from Alvin Elchico, ABS-CBN News