Oil firms bare modest price rollback

December 15, 2018

ONCE again, independent oil firms Phoenix Petroleum Philippines and Seaoil Philippines led the latest fuel price rollback which comes on the heels of the increase in prices of gasoline and decrease for diesel last week.

In their advisory, the two oil firms cut the price of their gasoline by P0.15 centavos per liter and P0.30 centavos per liter of diesel effective at 6 a.m. yesterday.

Seaoil also announced the rollback of the price of their kerosene by P0.30 centavos per liter while Phoenix announced only price cuts for gasoline and diesel since they do not sell kerosene products. Small oil players Re Phil and Petro Gazz also announced that they will follow the price adjustment effective 6 a.m. on Tuesday.

Meanwhile, Thai oil firm PTT Philippines also hinted at a price rollback next week, coinciding with their announcement of raising their target number of new stations next year.

PTT Chief Executive Officer Sukanya Seriyothin said that they are eyeing to exceed next year the 30 new stations that were targeted in 2018 as part of the continuing expansion of the Thai oil firm in the Philippines.

“We have achieved our 30 new stations target for this year and we hope to raise this target in 2019. So, most likely, we have more than 30 new stations next year,” Ms. Seriyothin told reporters.

By end of 2018, PTT Philippines would have around 150 new stations in various parts of Luzon and the Visayas. Some of its newest stations are located in Metro Manila, Central Luzon, and Southern Luzon.

“We have been expanding slowly but surely,” Seriyothin said, “but definitely we are continuing our expansion mode not just here in Luzon but also in the Visayas.”