Oil companies will implement another oil price cut by after midnight, radio dzMM reported Friday.

The report said Pilipinas Shell, Petron Corp. Chevron Philippines and Eastern Petroleum will cut P2 per liter on their diesel, gasoline and kerosene prices.

The oil companies will start the price cut's implementation at 12:01 a.m. Saturday, the report said.

Seaoil said it will also slash P2 per liter on its diesel prices.

Small oil player Unioil implemented a "big time" kerosene price rollback on Thursday afternoon.

The oil company slashed the price of its kerosene by P7.60 per liter.

The oil companies said the latest price adjustments were results of the plunging prices of crude in the world market.