Seaoil Philippines Inc. has issued about P10 million worth of prepaid fuel card as part of efforts to ease the burden of soaring oil prices on consumers.
The first of its kind in the oil industry, the prepaid card would peg a customer’s gasoline purchase at P53.50 per liter.
The company said the Price Lock Prepaid Fuel Card can be used to buy 20 liters of gasoline (G5 X-treme and Unleaded) from any Seaoil participating stations.
Seaoil has issued 10,000 cards at P1,070 each. The selling period is from June 10-21, 2008 valid for 11 weeks or from June 10 up to Aug. 22, 2008.
Seaoil president Glenn Yu said the prepaid card is one way of helping customers manage their fuel usage.
“Since the price has been fixed, cardholders will have an easier time budgeting their fuel expenses as they will be insulated from further spikes in gasoline costs during the promo period,” he said.
In the less likely event of a price rollback also during the period, i.e. the price goes down to less than P53.50 a liter, Seaoil will refund unused (unscratched) fuel prepaid cards.
Launched last June 10, the Price Lock Prepaid Fuel Cards can be purchased in Seaoil stations located in EDSA, Imelda Avenue, Maybunga, P.Tuazon, Pasig Boulevard, Commonwealth, Malabon, Merville, Paco, E. Rodriguez, Paraluman, Mindanao Avenue, Panaderos, Tandang Sora and Buendia.
Seaoil will also be selling the prepaid card in the following offsite points: Metrowalk (Activity Area) and Tiendesitas (Activity Area) in Pasig City, Teriyaki Boy in Greenhills Promenade in San Juan and Shopwise in Cubao, Quezon City.
The card is valid for single transaction only, which means customers should use up its entire 20-liter value since any unconsumed amount, such as a 19-liter purchase, will forfeit the remaining card value.
Only Seaoil station attendants are authorized to scratch the silver coating of the prepaid card upon purchase and claim the same card after the customer fills up.
Formed in 1997, Seaoil is the first independent fuel company to put up a gasoline retail station, following the deregulation of the country’s downstream oil industry. It has since aggressively expanded, becoming the largest petroleum firm outside the Big 3 of Petron, Shell and Chevron (Caltex) with over 130 outlets nationwide and about three-percent share of the retail market.
Consistent with its thrust of innovation, the company pioneered the promotion of biofuels and other alternative fuels in the country, being the first to introduce the use of ethanol as a gasoline blend.
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