Market share shifts in favor of smaller players in Philippines
The cumulative fuel market share of top fuel retailers Petron Corp., Pilipinas Shell Petroleum Corp. and Chevron Philippines (Caltex), has shrunk to less than 40% in the first half of 2021, from more than 50% during the same period two years ago, according to the Philippine Department of Energy (DoE).
Smaller market players cumulatively cornered 52.59% of market share in the first half of 2021, compared to 46.57% in the same period a year ago and 41.78% during the same period two years ago.
Latest data from the Philippine Department of Energy revealed that the market share of Petron Corp., Pilipinas Shell and Chevron Philippines for all petroleum products fell 16.1 percentage points to 38.96% in the first six months of 2021, from 46.40% in the same period in 2020 and 50.11% in the first six months of 2019.
Petron Corp. retained the top position with 18.6% in the first half, followed by Pilipinas Shell with 15.5% and Chevron Philippines, with 4.86% market share.
However, compared to the same period a year ago, Petron reported a 7% decline in petroleum product sales in the first half of 2021, while Pilipinas Shell’s growth was flat.
Smaller players include Phoenix Petroleum Philippines, which posted a market share of 7.8% in the first quarter, larger than Chevron Philippines’. Other smaller players include PTT Philippines Corp., Unioil Petroleum Philippines Inc., Seaoil Philippines Inc., Total, Jetti Petroleum Inc., Filoil, Marubeni, Micro Dragon Petroleum Inc., Goldenshare Commerce, Warbucks Industries Inc., Era1 Petroleum Corp., High Glory Subic International Logistics Inc., SL Harbor Bulk Terminal Corp., Jadelink Subic Inc., SL Gas, Power Fill and Petro Trade.
Meanwhile, the market share of end-users increased to 8.45% in the first half from 7.02% in 2020 and 8.11% in 2019.
Liquigaz is the Philippine market leader in liquefied petroleum gas (LPG) sales, with 28.85% market share, followed by South Pacific with 23.22% and Petron Corp. with 18.96%.