Philippines: Independent Petrol Retailer Unioil Stirs It Up!
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Tuesday, 14 July 2009 |
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A small independent petrol retailer in the Philippines has created wide
brand awareness by dropping its fuel prices at an opportune time.
Unioil Petroleum Philippines Inc. has implemented a larger than
normal reduction in its fuel prices. Effective from Tuesday 14th ,
Unioil would roll back the price of its fuel by P4.50 per liter, diesel
by P3.50 per liter and kerosene by P1.50 per liter, inclusive of the
value-added tax (VAT). Unioil operates fewer than 50
stations located mostly in Luzon.
Unioil General Manager Chito Medina-Cue Jr. said that lowering the pump
prices of their products would counteract the strategy of the
competition wherein other oil players are cross-subsidizing diesel
prices by pricing standard fuel products at a much higher level.
He added that the company’s decision to cut prices stemmed from the
continuous downward trend in world crude prices and the company’s
earlier commitment to sell to the public high quality petroleum
products at fair prices.
Unioil’s price cut comes on the heels of a P1.50 per liter reduction
implemented by Pilipinas Shell Petroleum Corp., Phoenix Petroleum
Philippines Inc., Seaoil Philippines Inc., Petron Corp. and Chevron
(Caltex) Philippines Inc. across all fuel products over the weekend.
PetrolWorld 130709
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