(Update) Chevron, Petron to slash pump prices Tuesday

Major oil players Chevron Philippines (formerly Caltex) and Petron Corporation will reduce the prices of their petroleum products Tuesday morning. Both oil firms will slash their gasoline, diesel and kerosene by P0.25 per liter. Chevron's price adjustment will start 12:01 a.m. Tuesday, while Petron’s will take effect at 6 a.m. Petron’s public affairs officer Raffy Ledesma and Chevron communications manager Toby Nebrida attributed the price movements to the downward movement of oil prices in the international market. - Aie Balagtas See/KBK, GMANews.TV