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Petrol prices in S'pore: Why the inconsistencies?

makapaaa

Alfrescian (Inf)
Asset
Posted on 07 Feb, 2009 08:07
<TABLE cellSpacing=0 cellPadding=0 width=530 align=center border=0><TBODY><TR><TD>Petrol prices in S'pore: Why the inconsistencies?


A STOMPer wrote in to question why pump prices locally remain high, despite what he feels is global stability of crude oil prices, and calls for oil companies to be more consistent in their pricing.

Ryan wrote in on Feb 6, and said:

"I am writing in to request for the oil companies to stand up and justify the inconsistencies in their pump prices.

"I was completely shocked when the pump price in Singapore increased for a 2nd time in a month in year 2009. The first time the pump price went up was on 7 Jan 2009, at 4 cents/litre and this was followed by a 5 cents increase on 29 Jan 2009.

"All these increases are carried out despite the slowing economy and the stability of the worldwide price of the crude oil, which till now still hovers around USD40. All along, oil companies have been stating that the pump prices are due to:

# Internationally-traded wholesale fuel prices
# Excise duties and goods & services tax (GST)
# Currency exchange rates
# Operating and capital costs (eg, land cost)
# Market competition

"Based on the above factors, international fuel price is now at all time low, GST has not increased, slight exchange in exchange rates USD against SGD, land cost (has it increased) and market competition (it's a fix price in SG), what prompted the increases for these 2 times?

"According to a Shell spokesperson quoted in a local paper:"Shell recognises that pump prices are of great concern to our customers. As always, we consider very carefully the many factors contributing to pump pricing before deciding on any changes.

"“Shell always strives to pass savings back to customers -- during the second-half of 2008 when oil prices sky-rocketed to an all-time high and then fell, we initiated 14 price cuts to bring prices down for customers."

"During this time, even the government is digging into the reserves to help out Singaporeans. How can the oil companies increase their pump prices without any justifications? And when is the government going to jump in to ensure fair trade?

"To all drivers, what we want is simple. Fair prices. If Malaysia can provide petrol at half our pump prices, I don't see why the prices keep increasing in Singapore.

"If the government cannot stand in to ensure fair pricing, they should at least remove the 3/4 tank rule temporary for Singaporeans to cut cost, to save more during this economy downturn. Otherwise all the monetary help from our reserves will end up with the oil companies, and do remember, some people do need a car."

</TD></TR></TBODY></TABLE>
 

newyorker88

Alfrescian
Loyal
Posted on 07 Feb, 2009 08:07
<TABLE cellSpacing=0 cellPadding=0 width=530 align=center border=0><TBODY><TR><TD>Petrol prices in S'pore: Why the inconsistencies?


A STOMPer wrote in to question why pump prices locally remain high, despite what he feels is global stability of crude oil prices, and calls for oil companies to be more consistent in their pricing.

Ryan wrote in on Feb 6, and said:


"If the government cannot stand in to ensure fair pricing, they should at least remove the 3/4 tank rule temporary for Singaporeans to cut cost, to save more during this economy downturn. Otherwise all the monetary help from our reserves will end up with the oil companies, and do remember, some people do need a car."

</TD></TR></TBODY></TABLE>

If the govenment is to do away with the 3/4 tank thing, the petrols stations will close a lot of stations.

Malaysia will complain singapore cars are stealing their petrol :smile:

Ask why the 40 cent tax per litre. Do away with that, and you see a lot more cheaper transport.
 

congo9

Alfrescian
Loyal
If the govenment is to do away with the 3/4 tank thing, the petrols stations will close a lot of stations.

Malaysia will complain singapore cars are stealing their petrol :smile:

Ask why the 40 cent tax per litre. Do away with that, and you see a lot more cheaper transport.

Ya, u do away with the 3/4 tank rule. The Singapore's petrol station will not have any margin to play with. It real competition ! Survival of the fittest.

It bad for the goverment also. The lose of massive rental income or leashold income from the petrol station. Cheers and 7 eleven have to scale back or completely close their operation. Guess who has the biggest shareholding in these 2 parent company ?

So do you think they want to cut the petrol tax or take away 3/4 tank rule ? It a lose lose situation for them if they are to take away these 2 rules.
 

Einfield

Alfrescian
Loyal
Because our Gov have vested interest in the oil companies, so they are more powerful then our Gov and therefore the oil companies interest will be serve first.
 

singveld

Alfrescian (Inf)
Asset
ask pap, high oil price benefit them, they need money to pay golden handshake for you know who.
 

SIFU

Alfrescian
Loyal
i tot should ask why petrol prices in spore is consistent throughout all petrol companies here..:confused:

right up to 3 decimal places may i add..:biggrin:
 

annexa

Alfrescian
Loyal
Gahmen up petrol tax? If not then they must be profiteering! WHERE IS YEO GUAT KWANG AND HIS CASE?
 

newyorker88

Alfrescian
Loyal
Ya, u do away with the 3/4 tank rule. The Singapore's petrol station will not have any margin to play with. It real competition ! Survival of the fittest.

It bad for the goverment also. The lose of massive rental income or leashold income from the petrol station. Cheers and 7 eleven have to scale back or completely close their operation. Guess who has the biggest shareholding in these 2 parent company ?

So do you think they want to cut the petrol tax or take away 3/4 tank rule ? It a lose lose situation for them if they are to take away these 2 rules.


Cheers I know belong to NTUC, as for 7-eleven, it is under Cold storage group, which is Li Ka Shing's if I am not mistaken.

Lose - lose situation? I dont think so. It benefit the common people.

The govenment should stop their money losing investments for a start. In that way, they need not suck so much from common people.
 

Lestat

Alfrescian
Loyal
Instead of whining on why petrol prices are up, the stomper should instead try to minimise usage of his car.

Typical Sinkiee. :mad:
 

congo9

Alfrescian
Loyal
Instead of whining on why petrol prices are up, the stomper should instead try to minimise usage of his car.

Typical Sinkiee. :mad:

Typical PAPies answer ....... instead of whinging you got not enough pay , why not go out and work in real PTE SECTOR to see if the PAPies can earn so much.

Discounting all the GLC ........
 

Cestbon

Alfrescian (Inf)
Asset
Cannot afford to pay for fuel/petrol better don't buy car in the 1st place. Hope petrol tax will increase to at least 50cent/litre or $1/L. That will reduce car in crowded road.
 
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