Oil companies announced a major slash in fuel prices on Tuesday, marking the fourth straight week of rollback for petroleum products.

In separate advisories, the oil firms said they will cut their gasoline prices by Php 1.70 per liter; diesel, by Php 3.40 a liter, and kerosene, by Php 4.40 a liter.

Both Petro Gazz and Seaoil said it will implement changes at 6:00 AM, while Cleanfuel at 8:01 AM on Tuesday, Dec. 13.

Last week, fuel firms cut gasoline prices by PHP 1.95 per liter, diesel by PHP 1.90 per liter, and kerosene by PHP 1.65 per liter.