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SEAOIL Launches New Products to Help Retain Oil Prices Amid Surge

The gasoline station SEAOIL launched innovative products that could be used to lock the oil prices amid fuel price hike.

Over the past few months, a lot of Filipino drivers and motorists have been struggling due to the surging prices of petroleum products. The pump prices have been rising for eight straight weeks.

On Friday (October 22, 2021), the oil company Seaoil Philippines reported that fintech firm “LOCQ, OPC” is offering a fleet management solution that would help firms to retain the prices of petroleum products.

SEAOIL

The PricesLOCQ for Business program suggest to store fuel in virtual tanks, which can be used to refill Seaoil’s fleet even when the fuel price increase. The gas station also said that firms can issue fuel codes to their drivers that can be verified by store attendants.

SEAOIL Philippines President and CEO Glenn Yu said that customers can download the application and buy fuel at current prices. In this method, consumers could lock the oil products at current rate and use it at their preferred schedule.

“PriceLOCQ for Business is the only solution that allows businessmen to hedge against fuel prices – that is to lock in fuel prices when they are low and redeem at SEAOIL when prices go up,” Yu said.

SEAOIL

The company also offers online booking for mechanics through on-the-go LubeServ on Wheels version. The services are currently available in Taguig, Makati, Mandaluyong, San Juan, Pasig, Marikina, Quezon City, and Cainta.

“Like LubeServ and LubeServe on Wheels, PriceLOCQ are part of SEAOIL’s response to changing market needs. Concern for rising fuel prices, health safety, and greater convenience in repairs and maintenance are all addressed by these new services,” Yu added.

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Read Also: DOE Says Oil Price Hike Could Not Reach P7 Within Next 2 Months

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