Tuesday, March 5, 2024

SeaOil now allows firms to buy fuel at low prices and store it on ‘virtual’ tanks

Local petroleum firm SeaOil has tapped fintech company LOCQ to roll out a fleet management solution called “PriceLOCQ for Business”.

Photo from SeaOil

The solution allows companies to buy fuel while they are low, store the fuel in their virtual tank, and refuel their fleet at SeaOil even when gas prices are high.

“PriceLOCQ for Business is the only solution that allows businessmen to hedge against fuel prices — that is to lock in fuel prices when they are low and redeem at SeaOil when prices go up,” said Glenn L. Yu, SeaOil Philippines president and CEO.

PriceLOCQ for Business works through a secure Web portal where one can monitor and manage the driver, vehicle, and fuel usage. One can issue fuel codes to drivers which station attendants can verify before gassing up. It also allows companies to view and download real-time reports to monitor transactions.

Retail customers can also enjoy PriceLOCQ’s benefits by downloading the app on their mobile, purchasing fuel at current prices, locking them in, and gassing up at their preferred time.

As businesses try to settle into the new normal, SeaOil said it also has entered into a line of vehicle servicing by opening its own branded service center, LubeServ.

The first branch is located in Anabu in Cavite, which is surrounded by residential developments. LubeServ offers automotive repairs and lubricant services using SeaOil’s engine oils and ancillary products.

LubeServ on Wheels is a variation of the service, bringing expert mechanics to the customer’s location. Appointments are booked online or via SeaOil Customer Service at 0999 885 5449. The service is currently available in the areas of Taguig, Makati, Mandaluyong, San Juan, Pasig, Marikina, Quezon City, and Cainta.

To maintain safety, mechanics are fully trained on health protocols and provided PPEs for their visit. Health tests are done every two weeks.

Customers are also given options to pay in cash, credit/debit cards or PayMaya. Package costs vary according to the customer’s preferred lubricant products, and already include engine oil, consumables, and labor.

“Like LubeServ and LubeServe on Wheels, PriceLOCQ is part of SeaOil’s response to changing market needs. Concern for rising fuel prices, health safety, and greater convenience in repairs and maintenance are all addressed by these new services,” Yu said.

The company recently made a landmark 600th station opening in Sepung Calzada, Tarlac City, bringing an additional 100 station openings in just 12 months.


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