Pilipinas Shell Petroleum Corporation, Chevron Philippines, Petron Corp. Total Philippines and PTT Philippines announced Tuesday cuts in pump prices of their diesel and kerosene products by P1 per liter and gasoline by P0.50 per liter.

Pilipinas Shell and Chevron said their respective price cuts are effective 6 p.m. Tuesday.

Total, PTT and Petron, in separate announcements, said their reduced pump prices would be implemented 6 a.m. Wednesday.

The price reduction comes less than a week after the company raised prices of their diesel and kerosene products by P1 per liter and gasoline prices by P0.50 per liter.

Flying V meanwhile said they have maintained prices at competitive levels at all times. "We will move prices accordingly on a per trading area basis. Our prices are at lower levels vis a vis suggested retail prices," said Flying V. With reports from Alvin Elchico, ABS-CBN News