By Myrna M. Velasco
Bitten by the ‘lovebug’ psyche of the Filipinos, major oil player Pilipinas Shell Petroleum Corporation is dangling its own version of ‘consumer love’ with ₱1.43 per liter discount to its Shell V-Power fuel products.
The oil firm said the reduced price of its gasoline and diesel fuel products will be enforced for one week from February 14 to 21 this year – and could be availed of by its patrons at participating stations.
Shell said the fuel price discount is being offered in at least 326 stations – the bulk is in Metro Manila with 230 stations; then Laguna and Cavite with 50 retail networks; and then Cebu with 45 stations.
Shell is the country’s second biggest industry player – and the scale of stations offering its reduced price accounts for roughly third of its more than 1,100 stations nationwide.
The oil company has also resorted to array of ‘marketing shticks’ in some of its stations in celebration of Valentine’s Day – including the kind of fuel pumping that appeals to the various “emotional state” of the Filipinos – ranging from those who are broken hearted, friend-zoned or those that were able to find their ‘forever’ in the love department.
Company executives said they are one in celebrating ‘heart’s day” with the Filipino consumers, hence, they came up with those marketing play to add up to the festive commemoration of Valentine’s Day in the country.
Shell’s “price cut love offer” is somehow seen as a precursor of what is being anticipated as ‘mixed price adjustments” next week.
As initially calculated by the oil companies, diesel prices may have a very marginal price cut of P0.10 per liter or there will be no adjustment; while gasoline prices could potentially rise by P0.30 to P0.45 per liter.
The oil companies have qualified though that the estimates as of Friday (February 14), are still based on the outcome of four-day trading in the world market; and may still change depending on the final result of the weekend trading.
Pump prices in the Philippines move on a weekly basis depending on the swing of prices in the world market – and consumers can only take advantage of additional cost benefits with promotional gimmicks that some of the industry players would often take just to give a jump on competitors.