Seaoil extends price lock fuel card promo

Seaoil Philippines Inc., the country’s biggest independent oil company, has extended the selling period of its pioneering Price Lock prepaid fuel cards to July 20 this year.

In a statement, the company said it decided to extend the offering period due to overwhelming response from consumers.

The second round of the Price Lock prepaid cards, however, will be offered at a higher rate of P59 per liter, compared to the initial selling price of P53.50 per liter.

Dubbed “Price Lock 2”, the card can be used to buy 20 liters of gasoline (G5 X-treme and Unleaded) from all Seaoil stations in Metro Manila. Each card costs P1,180 and can be redeemed anytime within a 12-week period from July 4  to Sept. 20, 2008.

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.

In the less likely event of a price rollback also during the period, i.e.the price goes down to less than P59 a liter, Seaoil will refund unused (unscratched) fuel prepaid cards.        

Seaoil officials pointed out it would be a good idea to get a hold of the Price Lock fuel prepaid card the moment it becomes available to maximize price protection.

“With the current premium gasoline price of P60 per liter, those who purchased the first Price Lock Fuel Prepaid Card at P1,070 or at P53.50 per liter, now enjoy about P6.50 savings per liter. This translates to P130 savings per card or as much as P1,300 for those who purchased 10 cards,” said Art Cruz, Seaoil’s marketing director.

The Price Lock 2 Prepaid Fuel Card will be made available at all Seaoil stations in Metro Manila and Rizal: A. Bonifacio, Binangonan, Buendia, Cainta,Commonwealth, Dagat-dagatan, Dimasalang, EDSA, E. Rodriguez, Gulod, Imelda Avenue, Karuhatan, Malabon, Marikina, Maybunga, Merville, Mindanao Avenue, Montalban, Northbay, P. Tuazon, Paco, Palatiw, Panaderos, Paraluman, Pasig, Patiis,Payatas, Pritil, Retiro, San Juan, St. Dominic, Sucat, Tandang Sora and Taguig.

Both the Price Lock 1 and Price Lock 2 cards will now be accepted in all the above-mentioned stations, as well as in Seaoil Metro Manila stations that will open this July, namely Arkong Bato in Valenzuela, Del Monte in Quezon City and Legarda and San Lazaro in Manila.

Seaoil will also be selling the prepaid card in the following offsite points: Greenhills V-Mall, Greenhills Theatre Mall (July 5-6, July 11-13, July 18-20), Shopwise Cubao (July 18-20) and Metrowalk (July 5, July 11-12, July 18-19).

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 three of Petron, Shell and Chevron (Caltex) with over 130 outlets nationwide and about three percent share of the retail market.