MANILA, Philippines – Energy Secretary Angelo Reyes yesterday urged motorists and companies with fleets of vehicles to patronize gas stations that offer lower pump prices to encourage competition in the oil industry and lead to further reduction in fuel prices.
Reyes said there is a general downtrend in crude prices in the global market and small oil players like Unioil and Flying V have been following the downtrend and selling their products at lower prices.
With choices in the market, Reyes urged the public to patronize gas stations that sell fuel at lower prices.
“In other words, there is freedom of choice. We patronize the gas stations that are selling at lower prices. That means there will be competition and that’s what we need – different companies, big or small, must compete so the people will buy from gasoline stations with lower prices and force those with high prices to reduce their prices,” Reyes said.
“On the part of the government, we are doing everything we can to protect the public and we continue to hope for prices that are reasonable and fair,” Reyes added.
Meanwhile, President Arroyo thanked in advance oil firms that would roll back their prices in the future as the prices of crude in the world market continue to go down.
“To Pilipinas Shell, many thanks for the benefits you have given today and for the coming price rollbacks,” the President said at the launching of the “Pepeng Pasada” discount cards for gasoline and lubricants for tricycle drivers and operators at the SM Mall of Asia yesterday.
Shell products, including Regular Mogas, Super Premium, Unleaded, and V-Power, will be discounted by P1 per liter while 2T lubricants will have a price cut of P2 per liter and Advance lubricants will be marked down by P5 per liter.
Meanwhile, Vice President Noli de Castro yesterday urged the three big oil companies to immediately lower pump prices by P2.
De Castro and the members of the National Price Coordinating Council (NPCC), who held a meeting yesterday at the Board of Investments building in Makati, said the big oil companies – Petron, Shell and Caltex/Chevron – should follow the move of the small players and lower pump prices by P2, citing the lower oil prices in the world market today.
He also asked the three big oil companies to allow the government to audit their books for transparency. – Paolo Romero, Rodel Clapano