By Myrna M. Velasco The traditionally dominating oil companies in the country – collectively known as the “Big 3” – had maintained their market leadership, according to a recent report by the Department of Energy. Department of Energy (DOE) logo
(MANILA BULLETIN)   Petron Corporation wears the crown as the industry leader with overall market share of 27.08-percent in the first half report of the energy department. It was followed by Shell with 18.50-percent pie in the market; then Chevron with 7.82-percent market share. Coming in head-to-head with Chevron is flourishing industry player Phoenix Petroleum Philippines Inc. with a fraction of 7.08-percent in the market during the initial six months of 2018. Next in the totem pole of market share rankings had been Seaoil Philippines, Unioil, Liquigaz, SL Harbor, Jetti Petroleum, Insular, Total Petroleum, South Pacific Inc., Micro Dragon, Isla Gas, PTT Philippines and Pryce Gases, among others. As stipulated in the DOE report, the three major oil firms captured the bulk of the market with aggregate share of 53.4-percent; while the independent players accounted for the balance. The energy department further noted that the local refiners – Petron and Shell – cornered 45.6-percent of the total market; while 54.4percent had been to the credit of the direct importers and other end-users. In the sub-market segment of liquefied petroleum gas (LPG), Petron also has the controlling market of 28.99-percent; followed by Liquigaz (which was recently sold) at 22.88-percent. The other key players in the LPG sector are: South Pacific with 14.07-percent share; Isla LPG with 12.27-percent; Pryce Gas with 11.28-percent and Phoenix LPG with 4.79-percent. Intense competition reigns supreme in the deregulated oil industry – primarily in the weekly movements of prices, as the oil companies wrangle for a place in media headlines and in sustaining patronage of customers. The pricing race – especially on episodes of rollbacks – proved to be highly beneficial to consumers as there had also been instances when some oil firms enforced heftier price cuts at the pumps.