Petron Corp. said that their nine month earnings for the year went up by 16%.
 

In a statement, Petron said that the earnings are based on the strong volume growth.
 

They also said that this is fueled by higher demand for gasoline and diesel products.
 

Petron also noted that their consolidated net income likewise grew substantially to P9.5 billion from P8.2 billion compared in the same period in 2022.
 

The operating income also increased by 64% to P27 billion from P16.5 billion.

Meanwhile, the consolidated revenues are at P587.3 billion from P631.1 billion in the past year.

The prices corrected are from the extraordinary levels seen in 2022 due to the conflict between Russia and Ukraine.

Petron also said that the consolidated sales volume of 93.6 million barrels, reflecting a 16% increase from 80.4 million barrels sold last year, with volume improvements noted across major business segments.

“We are seeing consistent growth in all areas of our business. Our wide reach, superior product quality, and reliable service have allowed us to sustain our good performance throughout the year, and maintain or even strengthen our market share in high-demand sectors,” Petron president and CEO Ramon Ang said.