Wednesday, June 25, 2008 Phoenix expansion project aims to cope with high cost of fuel By Carlo P. Mallo
THE secret behind the rapid expansion of petroleum player Phoenix Fuels is no secret after all.
Dennis Uy, president of Phoenix Fuels, said they embarked on massive expansion program as a strategy to cope up with high cost of fuel and the tightening of belts of consumers.
"Hardly anyone goes on a full tank these days," Uy said in an interview.
He said they increased the number of gasoline stations in order to provide convenience to their customers. "It's a company strategy, we go where our market is," Uy added.
In May, this year, the Department of Energy (DOE) in Mindanao reported that pump prices in Davao City have increased by more than 25 percent since May 2007.
Based on the price monitoring conducted by the agency on petroleum products in the city, kerosene recorded the highest increase with 29.2 percent since last year.
In May 2007, kerosene was only pegged at P37.29 per liter, but as of Sunday, the price was placed at P48.19 per liter or an increase of P10.90 per liter since last year.
Second on the list is the 28.5 percent increase in the price of unleaded gasoline during the same period.
As of May 19, 2007, unleaded gasoline was priced at P40.10 per liter. At present, unleaded gasoline is already priced at P51.53 per liter or an increase of P11.43 per liter since last year.
Biodiesel recorded the lowest increase with 26.8 percent since last year.
For the same period, biodiesel recorded only an increase equivalent to P9.38 imposed on its pump price in May 2007, which was about P35.03.
Despite the rising costs of fuel and with more and more people looking for alternative to lessen their expenses, especially on fuel costs, Phoenix Petroleum Philippines has been performing very well.
Based on a disclosure posted on the company website, www.phoenixphilippines.com, the company which started in May 2002, has now over 60 gasoline stations all over Mindanao.
