Petrol prices – Oil companies refused to allow MP to publish response

[krafty]

In 2008, when the crude oil prices soared to a high of US$147 ($216) per barrel, oil companies in Singapore reacted quickly and raised the price of petrol to an average of $2.20 per litre for 95-octane petrol.

The price of oil per barrel has tumbled to below US$30 today, or by more than 80 percent, but pump price of petrol have dropped only 14 percent. The average price for Octane 95 fuel is now at an average of $1.90.

The Consumers Association of Singapore (CASE) was also concerned about the retail pump price of petrol and in December 2015, had written in to the four major retailers here asking why their prices have not kept pace with the downward trend of crude oil prices.

http://theindependent.sg/petrol-prices-oil-companies-refused-to-allow-mp-to-publish-response/

 

[krafty]

it only cost about AUD $1.10 for unleaded petrol in australia. i seeing sinkies being ripped off but they are ok with it.

 

[xebay11]

What's there to respond? 70% voted for this.

 

[xebay11]

In 2008, when the crude oil prices soared to a high of US$147 ($216) per barrel, oil companies in Singapore reacted quickly and raised the price of petrol to an average of $2.20 per litre for 95-octane petrol.

The price of oil per barrel has tumbled to below US$30 today, or by more than 80 percent, but pump price of petrol have dropped only 14 percent. The average price for Octane 95 fuel is now at an average of $1.90.

The Consumers Association of Singapore (CASE) was also concerned about the retail pump price of petrol and in December 2015, had written in to the four major retailers here asking why their prices have not kept pace with the downward trend of crude oil prices.

http://theindependent.sg/petrol-prices-oil-companies-refused-to-allow-mp-to-publish-response/

What about transport and bus operators all also not decreasing prices, parents paying for school buses all also keep quiet. So why bother?

 

[greedy and cunning]

In 2008, when the crude oil prices soared to a high of US$147 ($216) per barrel, oil companies in Singapore reacted quickly and raised the price of petrol to an average of $2.20 per litre for 95-octane petrol.

The price of oil per barrel has tumbled to below US$30 today, or by more than 80 percent, but pump price of petrol have dropped only 14 percent. The average price for Octane 95 fuel is now at an average of $1.90.

The Consumers Association of Singapore (CASE) was also concerned about the retail pump price of petrol and in December 2015, had written in to the four major retailers here asking why their prices have not kept pace with the downward trend of crude oil prices.

Consumers Association of Singapore just wayang a bit lah.
major oil companies will tell CASE to fuck off.
CASE = garberment
long long long time ago sillypore cars were allowed to buy petrol in JB
to protect the interest of the major oil companies and lose of tax
the garberment quickly passed a law that sillypootian car entering JB
must have 3/4 tankful of petrol

and the silly 70% like it very much.

 

[Hans168]

it only cost about AUD $1.10 for unleaded petrol in australia. i seeing sinkies being ripped off but they are ok with it.

combined white shark & pirahna ripoffs..!!!

 

[johnny333]

Do Sporeans really think that the PAP are willing to take a pay cut or to cut back on their expenditure

Of course not, they are the "natural aristocrates" with the "what's wrong with making money" mentality.

 

[Hans168]

it only cost about AUD $1.10 for unleaded petrol in australia. i seeing sinkies being ripped off but they are ok with it.

& OZ is well known for expensive petrol!!!!!!!!!!!!!!!!!!
what fucking govt do we hv???

 

[hofmann]

petrol tax has gone up.

Singapore Budget 2015: Rise in petrol duty but drivers will enjoy road tax rebates
SINGAPORE - From today, drivers will have to pay more for petrol as the Government announced an increase in petrol duty rates. There is a reprieve, however, as there will be a one-year road tax rebate.

Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said in his Budget speech on Monday that the rise in petrol duties is meant to encourage less car usage and reduce carbon emissions. Petrol duty rates have remained unchanged since 2003.

The duty for premium grade petrol will be raised by 20 cents per litre to 64 cents per litre, while that of intermediate grade petrol will be increased by 15 cents per litre to 56 cents per litre.

In 2008, when the crude oil prices soared to a high of US$147 ($216) per barrel, oil companies in Singapore reacted quickly and raised the price of petrol to an average of $2.20 per litre for 95-octane petrol.

The price of oil per barrel has tumbled to below US$30 today, or by more than 80 percent, but pump price of petrol have dropped only 14 percent. The average price for Octane 95 fuel is now at an average of $1.90.

The Consumers Association of Singapore (CASE) was also concerned about the retail pump price of petrol and in December 2015, had written in to the four major retailers here asking why their prices have not kept pace with the downward trend of crude oil prices.

http://theindependent.sg/petrol-prices-oil-companies-refused-to-allow-mp-to-publish-response/

 

[krafty]

it always come at the right time to justify their doing, oh...what a coincidence!

petrol tax has gone up.

Singapore Budget 2015: Rise in petrol duty but drivers will enjoy road tax rebates
SINGAPORE - From today, drivers will have to pay more for petrol as the Government announced an increase in petrol duty rates. There is a reprieve, however, as there will be a one-year road tax rebate.

Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said in his Budget speech on Monday that the rise in petrol duties is meant to encourage less car usage and reduce carbon emissions. Petrol duty rates have remained unchanged since 2003.

The duty for premium grade petrol will be raised by 20 cents per litre to 64 cents per litre, while that of intermediate grade petrol will be increased by 15 cents per litre to 56 cents per litre.

 

[koala88]

& OZ is well known for expensive petrol!!!!!!!!!!!!!!!!!!
what fucking govt do we hv???

Well said and to add salt to wound, I understand almost all Oz petrol are shipped from SG refineries!!

 

[Leckmichamarsch]

it only cost about AUD $1.10 for unleaded petrol in australia. i seeing sinkies being ripped off but they are ok with it.

time to break up petrol companies like public bussing.......... allow direct import of petrol>>>>?????
why is it prohibited>?

 

[Papsmearer]

time to break up petrol companies like public bussing.......... allow direct import of petrol>>>>?????
why is it prohibited>?

The high petrol price cannot be explained by the exchange rate either. Its almost the same from 2008 to present time. Because oil is denominated in USD, if a country's currency is weak then the price of imported petrol will also be high. But this is not the singapore case. In fact, I think very few Sinkies actually pay full price for petrol. i.e. they hardly ever pay the posted price. Most of them have some loyalty program. I think if u use POSB or UOB cards to buy petrol at SPC, you get a discount. Same for Esso and DBS. Also, don't forget the rental cost of petrol stations have gone through the roof too. They have to earn more money to pay for the higher rent. Sales from the convenience store alone cannot cover the cost of rent.

 

[frenchbriefs]

PAP dont want sinkies to get used to anything cheap in Sinkieland,in case u guys start feeling pampered and self entitled.the screwing and fucking must go on!!!!!

also favourite saying of LKY whats wrong with collecting more money?

 

[krafty]

http://www.businesstimes.com.sg/infographics/oil-rout/from-well-to-pump

business times just came up with the above diagram to explain that high oil price is justified. the above diagram was first produced in 2014. now is 2016 and high oil price still apply, it seems that the extremely low oil price will forever be a myth to sinkies. besides, the increase in oil tax last year is a tool for gahment to side with the oil companies. car owners bear the brunt of the greediness of the oil companies after all. the main info graphic was the discount that sinkies enjoy at the pump, maciam like a lot...ha! not forgetting that NTUC supermart has a share in the ESSO petrol kiosks.

 

[bushtucker]

In 2008, when the crude oil prices soared to a high of US$147 ($216) per barrel, oil companies in Singapore reacted quickly and raised the price of petrol to an average of $2.20 per litre for 95-octane petrol.

The price of oil per barrel has tumbled to below US$30 today, or by more than 80 percent, but pump price of petrol have dropped only 14 percent. The average price for Octane 95 fuel is now at an average of $1.90.

The Consumers Association of Singapore (CASE) was also concerned about the retail pump price of petrol and in December 2015, had written in to the four major retailers here asking why their prices have not kept pace with the downward trend of crude oil prices.

http://theindependent.sg/petrol-prices-oil-companies-refused-to-allow-mp-to-publish-response/

CASE should ask their own gahment why never reduce the petrol duty?

 

[harimau]

Petrol prices dropped to its lowest prices since 2003! What is Sinkapors 2003 prices? Same as today or not? The difference is how Singapore petrol companies are ripping Singaporeans off!

Hey 70% didn't vote for high petrol prices okay?

Prices dropped after the election! Hee!

 

[frenchbriefs]

thats why i have this law of economic theory,why charge lower than what the public can afford to pay?whats wrong with collecting more money

I have this theory,why sell something cheaper than what people can afford to pay for it.why sell a hdb flat for 100k when people are willing to pay 600k for it,or $300 for a 1k iphone or $7 for a $2.50 bowl of curry chicken or 100k for car.people have shown they are willing to pay for gas at $140 a barrel,that is what the market price should be.that is the "real" price and "fair" price,no such thing as artificial price.

opec has fixed oil prices before,oil will be back to $140 a barrel before you know it.

 

[Papsmearer]

thats why i have this law of economic theory,why charge lower than what the public can afford to pay?whats wrong with collecting more money

I have this theory,why sell something cheaper than what people can afford to pay for it.why sell a hdb flat for 100k when people are willing to pay 600k for it,or $300 for a 1k iphone or $7 for a $2.50 bowl of curry chicken or 100k for car.people have shown they are willing to pay for gas at $140 a barrel,that is what the market price should be.that is the "real" price and "fair" price,no such thing as artificial price.

opec has fixed oil prices before,oil will be back to $140 a barrel before you know it.

Are you fucking retarded? That is not the law of economic theory.That is the law of oligopoly or monopoly. Real economics practiced elsewhere works in a free exonomy. i.e. if there is a real competition amongst suppliers. In this case, there is open collusion between all the oil companies and they are all holding their prices with the tacit agreement to do so. Absent of a strong govt watchdog to charge them with price gouging they can so as they please.

In all the examples you cited, the govt holds the monopoly. That is what they can charge $600K for a flat. People are not willing to pay for it, but people have no choice as the HDB corners 90% of the housing market. Even if they charged $1 million for a flat, people will have no choice and some will pay that money. Same for Iphone, since all the big telcos are govt owned. None of the pricing you see in singapore is real or fair. Only an idiot says that. $200K Honda Civic is "fair"and "real"? U are such a fucking moron.

 

[cuckoldoolittle]

Will Sinkies get rebates on Buses and MRT too? tan co co.