MANILA, Philippines – (UPDATE 2) Oil players announced that they would cut oil prices on Saturday, citing lower international prices.

At 12:01 a.m., Pilipinas Shell and Chevron Corp. will cut the prices of gasoline, diesel, kerosene by P1.50 per liter, said Shell vice president for communications Bobby Kanapi and Chevron communications manager Toby Nebrida.

Meanwhile, the same adjustments will take effect at 6 a.m. for Petron Corp. and independent oil player Phoenix Petroleum, said Petron spokesperson Virginia Ruivivar and lawyer Raymond Zorilla, assistant vice president for corporate affairs of Phoenix.