Thursday, December 25, 2008
SeaOil, UniOil and Flying V all implemented rollbacks on Christmas eve. SeaOil and Flying V cut P1 for both gas and diesel, while UniOil by P5-P7 and P4 for gas and diesel, respectively.
Although there is no news of a rollback from the Big 3, Shell did announce that they will match SeaOil and UniOil prices in locations where these companies have stations.
Hay naku! The Oil Deregulation Law really is a dismal failure. Competition between the oil companies, which was one of the major goals of deregulation, is practically non-existent since the new players represent a small percentage of the total number of stations.
Labels: oil prices
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