Maanne Ilagan Lopez

No rollback on Unioil anniversary

Daily Tribune

October 5, 2008

Maanne Lopez

Beat: Manila (Unioil: Pandacan)


No rollback on Unioil anniversary

Tentative announcement of Unioil Petroleum Philippines Inc. General Manager Chito Medina-Cue disclosed the company will not have a rollback on its 42nd anniversary today.

Although Unioil’s rollback series was setback, its pump prices remain P2 lower than the country’s big three oil companies.

The independent oil company is engaging another price war with the country’s big three oil companies, but assured that Unioil will maintain their positioning. “Lagi kaming masmura sa kanila,” said Medina-Cue.

Meanwhile, the Bureau of Customs had released the petroleum products, that the agency placed on hold pending verification of documents after, after finding out that there nothing’s wrong with the importations.

All the necessary taxes covering the importations have been settled by the company. “After a thorough verification made by the Bureau of Customs, Unioil’s shipments were released because all our import papers are in order,” said Media-Cue.

The general manager claimed that maintaining their low price had continuously increased their sales.

Monday marks a possible movement in oil prices after the government’s decision to re-impose a 1% tariff on oil imports.

“The 1 percent tariff re-imposition for our crude products and finished products will be definitely an additional cost that will translate to about 30-40 centavos per liter. And this will be an additional burden to the consumers,” Medina-Cue said. Maanne Lopez


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