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Chevron to add retail stations by end-December

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Philippines: Chevron to add retail stations by end-December
Chevron Philippines Inc. will increase its retail stations by end-December, its top executive was quoted as telling the Manila Times during the launch of the company’s Global Fund and Tropical Disease Foundation on Thursday.

The local daily quoted Randy Johnson, Chevron’s country chairman and general manager, as saying that by the end of the year Chevron will have a total of 75 retail stations across the country as it will add new ones to the 40 retail stations it installed nationwide last year.

“Of the 35 [new retail stations] 15 stations are already in place,” Johnson said.

At present, CPI has a total of 857 service stations and 87 StarMart outlets nationwide.  It also operates 42 state-of-the-art Xpress Lube outlets.

Johnson said that unpredictable weather has stalled the construction of the remaining 20 stations.

In a related matter, the executive said the rollback in pump prices could only be sustained if the price of crude oil in the world market would consistently go down as well.

He also expressed doubt whether the removal of value-added tax (VAT) would bring down the price of oil products in the country, saying, “The money that the government gets from VAT is also vital for the well-being and social programs of the government, thus it is up to the government as to where [they] will source it [once] it removes VAT  on oil products.”

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