Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change rate

[Papsmearer]

And in the meantime he can make obscene extra profits from the petrol price decrease. Song boh? So what he is saying is the govt not flexible or innovative. Cannot conduct rate review now in light of the drastic price drop?



SINGAPORE: The drop in energy prices seen in 2014 could translate to a negative public transport fare adjustment in the next fare review exercise at the end of the year. Based on available data for 2014, this could be "in the region of negative one per cent", said Transport Minister Lui Tuck Yew in Parliament on Monday (Jan 19).

MP Gan Thiam Poh asked with regard to the ongoing 2014 fare review exercise, whether the Public Transport Council would consider a reduction of transport fares, as a result of the fall in oil prices since June 2014.

However, Mr Lui noted that the ongoing fare review exercise, which started in November 2014, looks at changes in indices for 2013.

"We will have to leave it to the Public Transport Council to assess the public transport operators applications for fare increase, the fare adjustment quantum as given by the formula and the affordability of public transport for Singaporeans, amongst other things and decide on the fare adjustment," the minister said.

The fare formula is pegged to changes in the core consumer price index, wage index and energy index over the preceding year. This reflects the operating cost structure of public transport operators, said Mr Lui. The core consumer price index and wage index account for 40 per cent of the formula each.

The energy index component, which accounts for energy and fuel costs, makes up 20 per cent.

In the ongoing 2014 exercise - the value of the energy index component was negative 12.6 per cent - due to lower energy prices in 2013, but the core consumer price index went up by 1.7 per cent, while the wage index saw an increase of 4.3 per cent.

The fare adjustment quantum yielded by the formula would have been negative 0.6 per cent for the 2014 fare review exercise. However, the previous fare review exercise had announced a fare increase of 6.6 per cent in two steps.

A 3.2 per cent hike was introduced in April last year and the 3.4 per cent increase to be carried over to the ongoing review. Mr Lui explained that is why there is a 2.8 per cent fare adjustment quantum for the ongoing fare review exercise.

The next fare review exercise is set to take place towards the end of 2015 and is based on data for the full year of 2014.

 

[makapaaa]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

SINGAPORE: The drop in energy prices seen in 2014 could translate to a negative public transport fare adjustment in the next fare review exercise at the end of the year. Based on available data for 2014, this could be "in the region of negative one per cent", said Transport Minister Lui Tuck Yew in Parliament on Monday (Jan 19).

=> By then, the FAP Traitors would think of other excuses to hike fares, especially if they are fresh from another 60% mandate from the Dafties.

 

[Papsmearer]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

SINGAPORE: The drop in energy prices seen in 2014 could translate to a negative public transport fare adjustment in the next fare review exercise at the end of the year. Based on available data for 2014, this could be "in the region of negative one per cent", said Transport Minister Lui Tuck Yew in Parliament on Monday (Jan 19).

=> By then, the FAP Traitors would think of other excuses to hike fares, especially if they are fresh from another 60% mandate from the Dafties.

All those buses run on fossil fuels, make money like fuck already. Still don't want to lower the fare?

 

[Papsmearer]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

One Minister Lewd Fuck You say wait long long until end of 2015 to see any rate decrease for transportation, even though fuel prices so low. But Minister Lim Kay Kiang says the opposite. He say that lower oil prices will result in lower electricity and fuel costs, hence benefiting consumers. MRT uses mostly electriicity and petrol. So consumere should be benefiting right now. But they are not. Than who is right?

The drop in oil prices will translate to lower electricity tariffs and fuel costs, directly benefitting businesses and consumers, says Minister for Trade and Industry Lim Hng Kiang.



SINGAPORE: As a net importer of oil, the Singapore economy will benefit from the fall in global oil prices, Minister for Trade and Industry Lim Hng Kiang said in Parliament on Monday (Jan 19).

Responding to questions from several MPs on the impact of lower oil prices on Singapore, Mr Lim said a drop in oil prices will translate to lower electricity tariffs and fuel costs – directly benefitting businesses and consumers.

“For businesses, lower electricity tariffs and fuel costs will help to lower their input costs. This will help improve their margins, and could also dampen the pass-through of business costs to consumer prices,” he said.

For consumers, besides lower electricity and petrol costs, a decline in oil prices will translate to lower inflation. This could increase consumers’ purchasing power, stimulating consumption and further boosting the economy, Mr Lim said.

However, he noted that the offshore and marine sector could face longer term risks if oil prices continued to plummet. Currently, their businesses are buffeted by strong order books.

On whether prices of public utilities and petrol fairly reflect the fall in oil prices, Mr Lim said electricity tariffs have been reduced as natural gas prices have fallen. Between July 2014 and January 2015, average gas prices fell by 19 per cent. As fuel costs make up around half the tariff, the electricity tariff between July 2014 and March 2015 has been accordingly reduced by 9.3 per cent, he said.

As for petrol costs, pump prices have fallen by 15 per cent between July and December 2014, compared with a 41 per cent fall in crude oil prices over the same period. This is because the fuel component of pump prices is not determined by the price of crude oil, but the price of refined products like petrol and diesel, Mr Lim said.

“Petrol companies also have to take into account non-fuel costs such as land and labour costs when setting their prices. These are some reasons why pump prices fell by a smaller percentage compared to the drop in crude oil prices,” he added.

 

[johnny333]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

It will be interesting to see if they change their tune when they lose the next GE.

So everyone remember to vote for the opposition

 

[Papsmearer]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

URA and HDB can suka suka increase hawker stall rental over 20% over night. But wait for bus fare to go down, wait long long. Both still under PAP.

 

[Cestbon]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

Talk cock. Next time increase public transport fare don't said due to fuel price increase.
Now try to spin. Thinking all sinkie are idiot.

 

[laksaboy]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

Increase fare - mai tu liao, quickly increase!

Decrease fare - let's wait and see, don't be too hasty.

PAP scums, what's new?

 

[GOD IS MY DOG]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

URA and HDB can suka suka increase hawker stall rental over 20% over night. But wait for bus fare to go down, wait long long. Both still under PAP.

that's wonderful news...............more hawkers will vote opposition.................when they raise prices, their customers also will do the same................

similarly, they raise MRT and SBS prices velly velly gooood..............for opposition.............

and don't FARK that Lewd Fuck Yew lah.................he mana got power to raise prices......he need permission from Pinkie to go toilet even............

 

[Cerebral]

Energy cost dropped by 50%, constitute 20% of formula, but LTY thinks it will adjust downwards by 1%... and why are they making the formula so fucking complicated? As a public service, they should adopt simple cost plus pricing.

 

[JohnTan]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

Bus fares need to go up because bus drivers now are paid better salaries to attract more sinkies. The money for the better salaries need to come from somewhere. If you are unhappy with the fare increases, then explain it to the bus drivers that they need to put up with low salaries in spite of doing an important public service.

 

[steffychun]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

Another Rear addy no substance...cock how they even pass PSLE let along Ivy League unis?

 

[Cerebral]

Bus fares need to go up because bus drivers now are paid better salaries to attract more sinkies. The money for the better salaries need to come from somewhere. If you are unhappy with the fare increases, then explain it to the bus drivers that they need to put up with low salaries in spite of doing an important public service.

Firstly, most bus captains are foreigners. They are foreigners precisely because SBS does not want to pay more.

The profits are also very fat, so stop spouting nonsense.

In addition, petrol prices have fallen 50%, unless you are saying that their salaries have increased 50% or more, considering the few rounds of increases over the past few years, then what you say is rubbish

 

[Poomer]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

Wait till 2016 and hope everybody forgot about it?

Does it sound logical to set prices in 2015, based on the market indices of 2013? They need 1 year lag time for what? No wonder the government cannot build enough HDB, they are basing their demand on reports from a year back.

 

[laksaboy]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

Wait till 2016 and hope everybody forgot about it?

Does it sound logical to set prices in 2015, based on the market indices of 2013? They need 1 year lag time for what? No wonder the government cannot build enough HDB, they are basing their demand on reports from a year back.

They want to adopt a wait-and-see approach, sekali late 2015 oil prices shoot up again, then they'll say: see, no need to decrease fares after all!
And then they'll start planning for the next round of fare hikes.

 

[krafty]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

i am reminded of this photo, makes me laugh until i fall off my chair...

 

[johnny333]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

They want to adopt a wait-and-see approach, sekali late 2015 oil prices shoot up again, then they'll say: see, no need to decrease fares after all!
And then they'll start planning for the next round of fare hikes.

Let's save them the trouble by kicking them out

 

[eatshitndie]

Re: Minister Lewd Fuck You - Petrol price drop so what? Wait till end 2015 to change

very shiok!