Petrol and diesel prices going down

TalkingCock · 30-07-2008, 05:35 PM

Well, it seems like the down trend is here to stay for a while - overstaying, if I may add salt to the wound. For the 5th time, fuel prices have dropped, hitting $1.770 for diesel at Shell after discounts. In fact, the last dip is the steepest dip that has ever occurred in the last 5 years. This is probably also compounded by the strengthening of the US dollar, which means that lesser US$ is required to purchase fuel.

Meanwhile, CNG prices remained unchanged at S$1.80 a kg, and this is likely to rise next month; although Smart Energy, which operates Singapore’s biggest CNG refuelling station in Mandai, will reduce prices "purely for goodwill".

People who have converted to CNG will definitely not be pleased to know that CNG prices will be going upwards while that of petrol is spiralling down. The "goodwill gesture" is probably made because the companies are expecting fuel prices to take a turn for the sky some time soon. However, before that happens, I am wondering when the taxi companies will suspend the fuel surcharge. I am beginning to feel like a flight passenger.

**laukk** · 12-08-2008, 05:17 AM

Fat Hope !!!! I believe that if you look at the crude oil price now (at US$114 ??? )to the petrol price and compare it to the previous when crude oil was at US$114/barrel, you will note that the petrol price that we are getting now is still more expensive. whenever there is a surge in crude price, the petrol companies will react very fast to increase their pump prices and when the crude oil drip, the companies will take their time to reduce the pump price and it is always lower than what they had rise.

**Frankiestine** · 12-08-2008, 05:21 AM

Like I have been advocating, motorist should boycott a particular brand of petrol for one whole week, this would force them to slash their prices if they want to stay viable. By doing so it would create a domino effect on the rest of the petrol station. And dun tell me that the profit margin on petrol is marginal only because if they can extend a minimum of 5% discount and some can even offer up to 15% for certain cards then it is really crap reasoning!!!

**congo9** · 12-08-2008, 08:20 AM

Reason for CNG to go up is about Supply demand issue. Why ?

In Singapore there is only 2 refilling station , supply is limited , but the amount of cars using CNG is going higher and higher. So there is a short of supply and the demand is going up and up

So logically , the price of CNG goes up. It not about price of the crude , it abt the equibrium. Pegging the price of CNG with the crude is just an hook wink to raise the price of CNG ! They got to find a valid reason somehow .

**sta1100** · 14-08-2008, 03:16 PM

The patrol company & the speculators are the one to benefit from the high oil price, they are trying to push the gas price up and more $$$ will goes into their pocket, and are try to find all sort of excuse to up the price.
Who is going to suffer the mid/low income family, the world economy is slowing but because of some ASSHOLE.

**tommy** · 14-08-2008, 07:45 PM

What goes up must come down

**laukk** · 19-02-2009, 12:41 AM

The crude price had gone down to less than US$40 but I just pumped at 92 at spc and the price is still at $1.588/ltr. I asked the pump attendant when is the price dropping, he say no idea !!!!!
U see the petrol company is taking their time to reduce it but when the crude price went up above US$40, they reacted very fast to increase the pump prices !!!!!

**R4g3** · 19-02-2009, 01:56 AM

Originally Posted by tommy

What goes up must come down

dont think it works here.

they will have all the reasons to go up, but they will also have all the reasons not to let it come down.

this happens when the power is not within the people.

**sta1100** · 19-02-2009, 11:25 AM

Very sure the gov are behind this, reason is they want to keep the the use of car expensive, and more patrol tax & GST, at the end who win PAP who the sucker the people, please remenber on thier next election don't vote for them

**kiwibird7** · 19-02-2009, 06:24 PM

Originally Posted by laukk

The crude price had gone down to less than US$40 but I just pumped at 92 at spc and the price is still at $1.588/ltr. I asked the pump attendant when is the price dropping, he say no idea !!!!!
U see the petrol company is taking their time to reduce it but when the crude price went up above US$40, they reacted very fast to increase the pump prices !!!!!

The GREEDY OIL companies have raised the price of refining oil to nullify the effects of a drop in the price of crude oil that has fallen to below US$40 a barrel.

The OIL companies DO NOT even care that a world wide recession is in effect. They just want to squeeze more from the remaining motorists left. Demand for cars have fallen sharply and car manufacturers in both USA and Japan are reeling. Industries that use oil (energy) in manufacturing are downsizing or closing down.

Mitsubishi is going into mass production of the fully electric car next year and other car manufacturers will follow suit quickly. I look forward to the day when the greedy oil companies all go BUST and petrol stations close down like falling dominoes.

There should be no pity, no sympathy, no golden parachutes, no bailouts for them. especially for their CEO and top management consultants who earn obscenely high salaries.

The French Revolutionaries, The Bolsheviks, Mao Tse Tung etc all punished the bourgeois, the landlords, the aristocrats for their insatiable greed. The same breed of bourgeois, landlords, bankers, aristocrats etc are back again like stubborn weeds out to choke the rest of the working class with their insatiable greed that has led to the current economic crisis that the world is now suffering from.

Pure CAPITALISM that has NO MORALS will self destruct.