ANOTHER petroleum company is planning to set up its first retail gasoline station in the Visayas in Cebu.
Eastern Petroleum Corp. was considering having its first gasoline station here within the year since Cebu had been one of the largest fuel consumers outside of Metro Manila, said Fernando Martinez, Eastern Petroleum chief executive officer yesterday.
Martinez told Gov. Gwendolyn Garcia in a courtesy call at the Capitol Friday that prices of petroleum products in Cebu had gone lower compared to the prices in Manila.
Martinez attributed this from Garcia’s filing a case last year against the big three oil companies in the country for having higher prices of petroleum products in Cebu compared to the prices of the products in Manila.
Another factor to the reduction of petroleum products prices is the entrance of independent players in the market such as the Sea Oil and Flying V.
Garcia agreed with Martinez’s observation.
She said with more independent oil players, the prices of fuel would no longer be controlled by the big three oil companies.
Martinez also proposed having his firm supply diesel for Capitol.
Garcia said she was seriously considering the offer to buy the Capitol’s supply of diesel from the company.
This was after the Capitol’s the supplier, Petron, gave a price higher price than the company’s pump price.
“We should be enjoying an industrial rate kay bulk gud na atong gipalit,” she said.
“We will now consider accepting proposals from firms that want to put up a pump and tank in our premises,” she said. /Correspondent Carmel Loise Matus