Phoenix Petroleum Philippines Inc. said its liquefied petroleum gas (LPG) grew 14 percent in volume last year.
The company said Luzon now accounts for 32 percent of its LPG sales volume from 5 percent when it first acquired the the business in 2017 while sales from Visayas and Mindanao markets are being pushed by the LPG canister business.
Phoenix Petroleum said its overall market share is now at 8 percent due to continued market expansion and product innovation, among others.
“We are seeing sustained economic recovery with the easing of restrictions, which benefits our commercial LPG and sustained household consumption. Amid the ongoing pandemic and unprecedented uncertainties, Phoenix’s commitment to prudent management of resources and cost discipline and in bringing the best services and product offering to our communities are pushing us further and driving our growth,” said Henry Albert Fadullon, Phoenix Petroleum president, in a statement.
He added despite the slump in fuel consumption during the height of the pandemic, demand for LPG remained strong as many households continued to stay home and opt to cook at home.
