Uy-led Phoenix Petroleum Philippines Inc. has registered sustained demand expansion for its liquefied petroleum gas business, partly due to robust sales in the canister segment.
“Sales volume in Visayas-Mindanao is getting a boost from its emerging canister business. The expansion into new markets and product innovation, alongside strong business fundamentals, contributed to the notable growth of LPG — doubling its market share to 8.0-percent in less than five years,” Phoenix Petroleum noted.
He indicated that while the pandemic caused a historic decline in global fuel demand as commercial and transport segments weakened, “LPG consumption remained strong as many households continue to stay home and appreciate the joys of cooking.” At the height of the pandemic in the past two years, the oil industry business had been on slump, but it was the LPG segment of the business that continually thrived because the mobility restrictions compelled many consumers to resort to household cooking due to mobility restrictions.
Source: News Formal (newsformal.com)
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