Pokie Neutral Newbie March 24, 2008 Share March 24, 2008 Crude falls to below US$100.84 in Asian trade Mon, Mar 24, 2008 Reuters SYDNEY, AUSTRALIA - OIL fell more than US$1 (S$1.39) to less than US$101 barrel on Monday due to profit taking after Opec's chief said he expected steady oil prices for the rest of 2008. The remarks added to growing worries that a recession in top consumer the United States would cut global energy demand. US light crude for May delivery fell US$1.23 to US$100.61 a barrel in Globex electronic trading by 2335 GMT (7.35am Singapore time). It had settled down 70 US cents at US$101.84 a barrel on Friday, after falling as low as $98.65 earlier in the session. Petroleum prices will range between US$80 and US$110 per barrel for the rest of 2008, Opec President Chakib Khelil said on Saturday. -- REUTERS Its amazing how crude oil has fallen by about US$9 since last Monday...but no drop in our pump prices! Is this a political related matter? Why isn't the 'top-ppl' doing anything? Are the petrol companies given terms to set up their refineries here? I'm sure the increase in petrol prices has add on to inflation Any comments from any economist? ↡ Advertisement Link to post Share on other sites More sharing options...
Watwheels Supersonic March 24, 2008 Share March 24, 2008 They must be using the estimated average of the previous months to come up with today's pricing. Link to post Share on other sites More sharing options...
Pokie Neutral Newbie March 24, 2008 Author Share March 24, 2008 hmm..probably..but even so, shouldn't there be more transparency? Let us know how they calculate the prices. Make it known to all Link to post Share on other sites More sharing options...
Sony 1st Gear March 24, 2008 Share March 24, 2008 wait long long.. when there's money to be made, who wouldn't want to have a share Link to post Share on other sites More sharing options...
Iygnaug 1st Gear March 24, 2008 Share March 24, 2008 we should be glad they didn't increase pump price............... Link to post Share on other sites More sharing options...
Watwheels Supersonic March 24, 2008 Share March 24, 2008 Transparency? How well will ppl react when they find out how much oil companies are making? Link to post Share on other sites More sharing options...
Friendstar Supercharged March 24, 2008 Share March 24, 2008 from another thread regarding least popular petrol, lets reach a general consensus to boycott SPC? Link to post Share on other sites More sharing options...
Pokie Neutral Newbie March 24, 2008 Author Share March 24, 2008 Hmmm...I nvr pump SPC anyway, mainly due to its location However, I think its hard for boycott amy petrol company since we need to pump. There should be some controlling body to prevent the cartel from being too greedy. I do understand that they need to make money to satify their share holders....but without any regards or reference to world wide crude prices??!! Link to post Share on other sites More sharing options...
Pokie Neutral Newbie March 24, 2008 Author Share March 24, 2008 Which is the whole idea mah...that will allow for users to choose a better priced petroleum company. hmmm....i'm starting to feel that there maybe only one entity detemining the price of the pump prices! Link to post Share on other sites More sharing options...
Ad23 Neutral Newbie March 24, 2008 Share March 24, 2008 They will use the same old excuse. The stock they brought in when the price hit record high still in stock. Thus cannot reduce price. What's new? Link to post Share on other sites More sharing options...
Beei 1st Gear March 24, 2008 Share March 24, 2008 why SPC.. caltex is the one spoiling market nowaday.. anyway i dun pump SPC.. not a single station in my work area and home area.. Link to post Share on other sites More sharing options...
Rickster 5th Gear March 24, 2008 Share March 24, 2008 I tink by now its quite clear to all of us that local pump prices are not determined by crude price. Crude prices is only used as a lame excuse to raise petrol prices. The real hand behind our petrol prices is the MIW Link to post Share on other sites More sharing options...
Rickster 5th Gear March 24, 2008 Share March 24, 2008 I seriously doubt it is any brand that is spoiling the market. They are not called cartel for no reason. Caltex, Shell, SPC, Esso are but puppets that are being controlled by the real cartel - the MIW. Link to post Share on other sites More sharing options...
Leeweekiong Neutral Newbie March 24, 2008 Share March 24, 2008 their theory, what goes up will never come down Link to post Share on other sites More sharing options...
Mzrmazda3 6th Gear March 24, 2008 Share March 24, 2008 Here will only 'Up' .... very difficult to see them 'Down' one ... Link to post Share on other sites More sharing options...
Kelpie 2nd Gear March 24, 2008 Share March 24, 2008 Which is the whole idea mah...that will allow for users to choose a better priced petroleum company. hmmm....i'm starting to feel that there maybe only one entity detemining the price of the pump prices! Did someone mention earlier that the overall fuel consumption has dropped despite a rise in car population? Just go JB to pump lor, V-Power is S$0.90 per liter. World oil prices up or down, still same price. In SG, it is all about money. Everyone wants to make super profit fast and quick and for as long as possible. Regards, Link to post Share on other sites More sharing options...
Wt_know Supersonic March 24, 2008 Share March 24, 2008 (edited) still above USD$100 hope the crude oil can stablise at $90 don't think we can see USD$60 anymore before it spikes to USD$100 Edited March 24, 2008 by Wt_know Link to post Share on other sites More sharing options...
Sony 1st Gear March 24, 2008 Share March 24, 2008 we should be glad they didn't increase pump price............... ahhh.. you have gotten enlightenment ↡ Advertisement Link to post Share on other sites More sharing options...
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