Customers now generally prefer buying more from independent petroleum players than the major players
Data from the Department of Energy (DOE) as of the first half of the year showed the joint market share of all independent fuel players now stands at 52.59 percent, surpassing the 38.96 percent joint market share of the three major players Petron, Shell and Chevron.
The disparity has widened compared with the similar period in 2020 when the joint market share of all independent fuel players was at 46.57 percent and the three major players in the market was at 46.40 percent.
Individually, Petron still leads with a market share of 18.60 percent, a 15.2 percent drop from 21.94 percent while Shell now has 15.50 percent, a 15.5 percent decrease from 18.35 percent while Chevron now has a 4.86 percent, 20.5 percent lower from the previous 6.12 percent.
DOE’s current data however did not specify the individual market share of independent fuel players.
Last year, the majority of fuel players’ profitability were affected with travel restrictions imposed in the country but are now treading towards a recovery this year.
As of August 24, year-to-date adjustments of fuel products are at a total net increase of P12.45 per liter for gasoline, P9.35 per liter for diesel and P7.40 per liter for kerosene. – Jed Macapagal
