Sg Petrol Cartel: We're NOT a Cartel!

[makapaaa]

<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>Pump prices affected by not just one factor
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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->I REFER to Mr Ryan Tung's letter, 'Pump query' (Sept 5), in which he commented that there was a less than perfect correlation between pump prices and crude. We wish to clarify the factors affecting pump prices.
Retail pump prices are affected by a combination of factors, and hence may not rise or fall in perfect unison or by the same percentages as crude prices. The other factors that affect pump prices include:

Internationally traded wholesale prices;

Operating and capital cost;

Taxes and duties;

Currency exchange rates; and

Market competition.
A change in any of these factors may lead to pump price adjustments. Wholesale fuel prices account for approximately 40 per cent of pump prices in Singapore. Wholesale prices are the result of the actions of many buyers and sellers operating in a global marketplace, and crude prices are just one of the many determinants of wholesale prices.
In Singapore, taxes and duties make up about 30 per cent of pump prices, and the remaining 30 per cent cover our margin and cost of operations (for example, shipping, storage, distribution, marketing, manpower, land and other fixed-asset costs).
Competition is keen in geographically small Singapore, and motorists are extremely price-sensitive and will respond to small changes in pricing. It is precisely because of this keen competition that no company will allow the others a price advantage at the retail pumps.
At ExxonMobil, our focus is to continually take steps to improve our ability to compete and distinguish ourselves by providing more value and convenience to our customers. We would like to reiterate that we at ExxonMobil support free and fair competition and are strongly against any form of anti-competitive practices.
Loh Pin Chuan
Public Affairs Manager
ExxonMobil Asia Pacific

 

[ossy77]

Thank you for your query.

Supply, demand, competition and the marketplace determine the price at any given point in time. Retail pump prices reflect the cost of crude oil to refiners, refinery processing costs, marketing and distribution costs, government taxes, as well as the operating margins of refiners, distributors and retailers.

We would like to assure you that Chevron closely monitors the market landscape at all times and offers our products at competitive prices. Chevron is committed to offering our customers value for money for the goods and services that we offer.
Regards,
Yap Shan Shan
Policy, Government and Public Affairs, Singapore

 

[MarrickG]

Sounds a little similar to the explanation by Transport Minister on the public transport fare.

 

[ossy77]

SOP replies for this type of organisation that copy replies from our garment...

 

[Brightkid]

but, but......but.....every time oil price moves, petrol price move (though not in same proportion depending on up or down), sometimes 2 times per week !

Do other factors' changes caused petrol price to move as frequent ? Never heard of exchange rate caused price movement, even now as US$ been at very low we don't see petrol price going down due to exchange rate.

When was the last change in taxes and duties? How often and how large fluatuation was labout cost (how about thise jobs credits or whatever rebates?) and capital cost ?

Some one not telling the real story her or these petrol company thinks Sinkies are idiots.

 

[Leckmichamarsch]

<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>Pump prices affected by not just one factor
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>




<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->I REFER to Mr Ryan Tung's letter, 'Pump query' (Sept 5), in which he commented that there was a less than perfect correlation between pump prices and crude. We wish to clarify the factors affecting pump prices.
Retail pump prices are affected by a combination of factors, and hence may not rise or fall in perfect unison or by the same percentages as crude prices. The other factors that affect pump prices include:

Internationally traded wholesale prices;

Operating and capital cost;

Taxes and duties;

Currency exchange rates; and

Market competition.
A change in any of these factors may lead to pump price adjustments. Wholesale fuel prices account for approximately 40 per cent of pump prices in Singapore. Wholesale prices are the result of the actions of many buyers and sellers operating in a global marketplace, and crude prices are just one of the many determinants of wholesale prices.
In Singapore, taxes and duties make up about 30 per cent of pump prices, and the remaining 30 per cent cover our margin and cost of operations (for example, shipping, storage, distribution, marketing, manpower, land and other fixed-asset costs).
Competition is keen in geographically small Singapore, and motorists are extremely price-sensitive and will respond to small changes in pricing. It is precisely because of this keen competition that no company will allow the others a price advantage at the retail pumps.
At ExxonMobil, our focus is to continually take steps to improve our ability to compete and distinguish ourselves by providing more value and convenience to our customers. We would like to reiterate that we at ExxonMobil support free and fair competition and are strongly against any form of anti-competitive practices.
Loh Pin Chuan
Public Affairs Manager
ExxonMobil Asia Pacific

Little red dot is the only place on earth where gahmen gang up with fuel cartel to screw motorists and consumers!
Free market has been shackled for too long a time becos gahmen wants more and more revenue from fuel taxes & oil company just ride along.

Where on earth is the margin for fuel so high for a common daily consumption item like sugar and bread???
Where except little raped dot........:oIo::oIo::oIo::oIo::oIo::oIo::oIo:

 

[johnny333]

Some one not telling the real story her or these petrol company thinks Sinkies are idiots.

What else do you call the 66% who give the familee the mandate to screw Sporeans Again & again & again....

Mentally challenged? Politically deprived? .....

 

[Leckmichamarsch]

petrol companies know gahmen lost its moral authority over them being also involved in the profiteering game

 

[Kuailan]

Transport Association was charged in Court for price fixing...Petroluem company go scotch free for price fixing..See all the different petroluem company having the same price for 95 -98 octane is this co-incidental?

 

[Getloud]

'In Singapore, taxes and duties make up about 30 per cent of pump prices'

SG, please go and buy more cars.
Pay road tax, COE, ERP, etc.......
Work and be a slave to PAP all your live.