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Saturday, July 13, 2024

Oil, oh so precious

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Hearing about a small company prospering in the country’s very competitive oil industry while competing with industrial giants is simply astonishing.

In Valle Verde 1, Pasig City, Seaoil just opened its 750th oil station at the intersection of C5 and Atis Ugong. Before the year is over, it will reportedly add another 100 stations, bringing the total to 850.

What a success story, as Seaoil is competing successfully with the Big 3 of the oil sector, Petron, Shell, and Caltex. When the local oil sector was deregulated, a number of independent fuel businesses emerged, but Seaoil is the largest and is quickly gaining favor with drivers who are looking for affordable but high-quality fuel.

Glenn Yu, CEO of Seaoil

“We take great pride in the work we’ve done to inspire Filipinos to look forward to a better tomorrow. Our clients may expect more efforts in the years to come because we haven’t finished yet,”  Glenn Yu, CEO of Seaoil, who had persevered greatly in positioning his company side-by-side with the titans in the local oil industry over the course of several decades, stated, 

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While we’re on the subject of the local oil industry, many drivers are in disbelief over the nearly weekly increase in gas and diesel costs.

We are aware that this is a direct effect of the long-ago-enacted deregulation of oil pricing, which mandates price changes based on weekly prices on the global market.Since they were the ones who knew it, it is unknown how these are calculated by the various companies. Why different gas stations offer different types of prices on their respective websites continues to baffle many people.

When purchasing fuel near San Juan, you may expect to pay significantly less. However, it is already a different scenario when I cross the line and travel outside, say to Mandaluyong, Manila, or Quezon City. When compared to the next adjacent station that uses a different fuel name, there are times when one gas station offers a very pricey set of prices. 

Many people wonder if the authorities are monitoring this or if each station can establish its own prices in accordance with its own preferences or if they are still constrained by the fixed prices for that specific week.

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