The abrupt leap in local fuel prices that directly followed the levying of steep excise taxes on petroleum products in January appears not to have motivated Filipino motorists to cut back on the use of their cars.
Filipinos seem to have absorbed the substantial oil price hike with little if any change in their travel habits, at least if the sales volumes of PTT Philippines are any indication.
PTT’s Marketing Director Thitiroj Rergsumran said that the implementation of the TRAIN law last New Year’s Day has not resulted in any perceivable drop in the company’s sales and in fact, the Thai-based oil firm’s local business is poised for expansion.
“No, the new excise tax has not affected our sales volumes, It’s still the same,” Rergsumran told journalists yesterday. He also emphasized that the imposition of the tax on every liter of unleaded gasoline and diesel sold since January 1, has resulted in a “purely pass-on charge” which does not in any way benefit the company’s profit margins. The government is the only beneficiary of this pass-on charge, he added.
Rergsumran revealed that the number of PTT gas stations in the country will rise to 150 by year-end from the current 120 stations. He said their adjusted goal is to build an additional 30 stations every year from only 15 annually in previous years.
This expansion mode, he added, is being spurred forward by the encouraging investment climate in the Philippines and the accompanying business opportunities.
PTT’s mid-term vision is to have 300 gas stations by the year 2022, he said.