Fuel retailers slashed pump prices for the 8th week in a row, effective midnight. Shell, Seaoil and Eastern Petroleum reduced the price of regular gasoline by P0.40 per liter, unleaded gasoline by P0.65 per liter and kerosene by P0.60 per liter.

The companies attributed the rollback to lower oil prices in the world market. Mornings@ANC, June 4, 2012