Gas company Cleanfuel saw losses on profit and operational costs after it enforced a price rollback on fuel products this Wednesday, according to its president on Friday.
The price rollback saw diesel prices reduced by P3 to P5 since Wednesday on selected service stations.
Cleanfuel president Bong Suntay told DZRH said that as an effect of the rollback, they saw losses on profit and operational costs, but the company saw it as a "small contribution" for motorists.
"Nag-compute kami, medyo wala nang kikitain pero sabi ko sige total nanggaling sa pandemya 'yung ating mga kababayan," he said.
(We computed it and we would not have revenues, but I said sure, since Filipinos just came from a pandemic.)
"Kung meron man kaming loss diyan, 'yung mga operational cost namin, sweldo sa tao, benta sa station, pero sabi ko nga, it's a small contribution natin habang hinihintay natin yung maiilunsad ng DOTr at ng LTFRB yung kanilang fuel subsidy," he said.
(If we have a loss, it will be on our operational costs, wages for our people, sales on our stations, but as I said, it’s a small contribution while we wait for the fuel subsidy from the DOTr and LTFRB.)
According to Suntay, they managed to implement a rollback because they had existing stock that they bought when fuel prices were still lower.
"Meron pa namang kaming natitirang konting stock na nabili namin sa mababang halaga, sabi ko ibigay na natin sa tao, wag na nating pagkakitaan," he said.
(We have a small amount of stock remaining that we purchased for lower costs, so I said we should give this to the people and not earn profit from this.)
He added that they implemented the rollback in response to the national government's appeal to companies to provide relief for motorists.
"Pinagbigyan natin 'yung apela ng ating national government dahil na rin sa mga motorista natin," he said.
(We responded to the appeal of the national government also because of our motorists.)
"'Yung kumpanya natin lumaki 'yan dahil sa suporta na naibigay ng mga motorista satin at talagang ginagawa natin lahat ng ating makakaya to be able to give back to them para naman maibalik sa kanila 'yung suportang laging binibigay," he added.
(Our company grew because of the support given by motorists and so we are doing our best to be able to give back to them so their support can be returned.)
The gas company president made the remarks as he also lamented how fuel prices skyrocketed when the country was in the process of recovering from the pandemic.
The recent surge on fuel costs can be attributed to the ongoing conflict between Ukraine and Russia, where the latter is a key oil producer.
