‘Big 3,’ Seaoil to slash pump prices Monday

MANILA, Philippines - Four oil firms, including the so-called Big 3, would roll back the prices of its petroleum products on Monday, officials said. The 'Big 3' - Pilipinas Shell Petroleum Corp. Chevron Philippines (formerly Caltex) and Petron Corp. - along with independent player Seaoil would slash the prices of its diesel and kerosene by P0.50 per liter, and gasoline by P0.25 per liter. Shell, Chevron, and Seaoil's price reduction would take effect at 12:01 a.m. Monday, while Petron's would be implemented at 6 a.m., also on Monday. The rollback is in connection with the decline in oil prices in the international market. - GMANews.TV