Oil companies are poised to lower their pump prices this week.

Shell, Cleanfuel and Seaoil said that they will cut the prices of gasoline by P0.75 per liter, diesel by P0.85 per liter and kerosene by P0.80 per liter.

Last week, oil companies lowered the cost of diesel by P0.40 per liter and kerosene by P0.70 per liter but raised gasoline prices byP0.10 per liter.