Oil is crashing! Singaporeans are still paying high pump prices?

[harimau]

Suckers!

New 12-year low for oil as it crashes below $28

2 Business Insider by [email protected] (Ben Moshinsky)

Oil crashed past the $28 per barrel mark in overnight trading, hitting $27.82.

It was the first time since September 2003 that the price had fallen below $28 a barrel. Oil keeps getting cheaper. It's now down 75% from July 2014.

The renewed slide corresponds with a report released by the International Energy Agency in which the group warned that the oil market could drown in over-supply in 2016.

As of 7:10 a.m. GMT (7:40 a.m. ET) both major benchmarks, West Texas Intermediate and Brent crude, had rallied a little but were still down more than 2%.

 

[tonychat]

this is what happens when you are ball-less.

 

[krafty]

dun worry sinkies! this year's budget, tharman will increase petrol tax again. haha...lol...

 

[syed putra]

dun worry sinkies! this year's budget, tharman will increase petrol tax again. haha...lol...

We must ask, what is the increase in taxation spent on? Higher salaries for minsters and top civil servants or to improve welfare of the people?

 

[krafty]

We must ask, what is the increase in taxation spent on? Higher salaries for minsters and top civil servants or to improve welfare of the people?

dun worry sinkies! pap ministars always find the right excuses at the right time to justify what they want to do with the high petrol tax.

 

[johnny333]

We must ask, what is the increase in taxation spent on? Higher salaries for minsters and top civil servants or to improve welfare of the people?

Improve the welfare of those with higher salaries
e.g. that civil servants who went to France for cooking lessons can now go for a refresher.

 

[Leckmichamarsch]

Improve the welfare of those with higher salaries
e.g. that civil servants who went to France for cooking lessons can now go for a refresher.

fly there on personal Lear jet............