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Eastern Petroleum Corp. will increase the number of
its oil stations in Metro Manila this year despite skyrocketing oil
prices, the company announced.
Fernando L. Martinez, EPC
president, told reporters that EPC plans to put up 10 more gas
stations in the metropolis from its current 40 stations, barring any
problem with zoning rules.
“There are barriers to entry
for local players, which is contrary to oil deregulation,”
Martinez said, citing the limits set by local government units such
as the distance from other oil stations.
EPC yesterday opened its 40th gas
station in Pedro Gil in Santa Ana, Manila.
Martinez said the company would
continue to give discounts on diesel and gasoline products despite
the recent spike in oil prices, a move to exhaust the inventories
acquired at a lower oil price in December.
The company, meanwhile, has
signed P1.35-billion worth of diesel products with oil refiner
Formosa Plastics in Taiwan, which refines an average of 600,000 a
day.
--Maricel E. Burgonio
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