MANILA, Philippines - Independent oil player Seaoil Philippines is bringing back its fuel prepaid card promo that locks gasoline price at a fixed amount of P52 per liter to protect consumers from price hikes.
The prepaid card can be used to buy 20 liters of gasoline from any Seaoil retail station, the firm said in a statement.
The card will be sold for P1,040 from March 9 to 16, 2011, valid for 9 weeks or until May 15.
“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,” said Seaoil President and CEO Glenn Yu.
In case of a price rollback within the validity period, Yu said prepaid card users may consume the full value of their cards based on the current pump price.
Seaoil first launched the prepaid card promo in 2008, when crude prices spiked to over $140 per barrel amid the global economic crisis.