Petrol Price - Justifiable?

[Shull]

actually..looking at past oil and petrol price..

 

in mid 2004, crude is hovering at about USD40-USD50 per barrel..our petrol then is about S$1.4/lit

 

Now crude is about USD130, about 3 times more, but we don't see our petrol shooting to SGD3/lit

 

does that make any sense?

[Djcoolmax]

came back home today. turned on the TV.. BBC, CNN, CNBC & Bloomberg (channel surfing between) and all are talk about how the high price is affecting everyone. In singapore, Diesel vehicle owners are luck that the gov does not tax diesel. Right now in the UK, there's a strike by truck drivers and they want the gov to do something about the rising diesel prices.

 

According to ST, if diesel was taxed, it would roughly the same price as oct98. If this was the case in Singapore... siao lioaz.

 

Anyway.. back to fuel price. It's affecting everyone and we all could be at a point where it's going to impact all business.. irregardless of what business you are in.

 

This is bad.. very bad.

[Picanto]

i thought they say the economy is getting better just a few months back?? the elite one say no adjustment of the GST rate no matter how bad the conditions. we just have to live with it.

[Tploh]

there is no need to justify petrol prices cos' you don't have alternative.

[Cheerios]

greedy petrol cartel have no ethics lar... they know that we will still pump petrol even if the price is $3.

 

 

more good years ahead.

[Typhoonz]

This has been discussed again and again liao... The prices will only go up from now... Suspect companies like Shell ordered their electronic petrol price displays that only has the "up" button...

 

Anyway, since when are their prices justifiable? Making money like mad man... Especially now we cannot pump petrol in Jaybee...

Edited May 28, 2008 by Typhoonz

[Miles]

alternative coming in 2-3 years' time.

 

100% electric cars. ... currently developed by Renault/Nissan which had a pact with Denmark (the country with the most expensive cars in the world... more exp than spore) and Israel. They target is 2010, where 100% electric cars will be launched in US and then Israel and Denmark.

 

Israel is implementing no petrol cars on the road by 2012 i think. Guess they dont want to rely on their enemy for essentials like oil.

 

The system works by having a standard battery pack (most probably Li Ion) on the car. So when you buy the car, they give you a fully charged battery. Then once you battery is low, you go to any refueling station (probably wont be calling that in future) and swap your drained battery for a freshly charged ones and pay for the leasing cost of the fully charged battery (like changing your drained HP battery with a fresh one). Your drained battery will be left in that kiosk to recharge and pick up by another user when its fully charged. So, user will just pay for the leasing of the fully charged battery. If you are driving long distance, you can lease spare battery from the kiosk and bring with you for your trip.

 

Energy to re-charge the battery can be tapped from hydro-electric generator, solar energy, LPG generator or even nuclear energy generator, without having to use diesel generator.

 

Renault/Nissan is working towards a standard format/type of battery pack that's small and light yet store sufficient energy charge for at least 200km range for now,... increasing to 400km range when Li Ion or other types of battery cell technology improves.

 

When that day comes.... watch the cartel manage to adapt to new biz environment or go bankrupt.

Just like how Kodak/Fujifilm adapt to change from film photography to digital photography. Fujifilm adapts relatively well and survive. Kodak is not and is bleeding badly. Polaroid is totally made obsolete in this new game.

[Davidklt]

look at Thailand..petrol price increase 1 fold.

[Flying_genie]

Very simple. To lower price of petrol, government only need to lower the petrol tax. Heard the petrol tax is 40% of pump price. Can anyone confirm?

[Sturtles]

It is a fixed sum, 45 cents or so for RON 98, lesser for ron 95 and 92 if the media is true

[Tploh]

Must go out ahd look at petrol kiosk's signboard now.

 

Those signboard with sufficient space to display double digit dollar pricing, I will buy their stocks but not their petrol.

 

Damn cartel

[Scenic98]

what a difference a week makes. crude now trading at 126.60, a drop of almost $10/bbl in a week.

 

i hope this can sustain, and see what our cartels do.

[Typhoonz]

They have the upper hand liao mah so we suffer lor...

[Bluecollar]

actually..looking at past oil and petrol price..

 

in mid 2004, crude is hovering at about USD40-USD50 per barrel..our petrol then is about S$1.4/lit

 

Now crude is about USD130, about 3 times more, but we don't see our petrol shooting to SGD3/lit

 

does that make any sense?

 

In 04 most oil drilling is done in shallow waters and oil companies breakeven at about US$35 per barrel of oil. As prices increase, oil companies see the opportunities to explore other areas such as deepwater and marginal wells. With that oil companies now breakeven at about US$50 per barrel. That is why you do not see retail at SGD$3 even when oil is USD$130 because they are already making huge profits.

 

This may also explain why the lady can afford new BM with 6 mths bouns.

[Bluecollar]

If Singaporeans are not goldmine, how do you explain there are so many

toyota estimas, alphard, suvs, harriers/rx300 etc on the road despite

the rising pump prices. blame on those who are spoiling the gas companies.

 

It is not fair to pinpoint just Singaporeans, because oil prices is the world affair. The world leaders should do more to curb major profiting by oil companies. There are several school of thought, cos higher oil prices also means oil companies are more willing to spend on their equipment, which can go up to hundreds of millions of dollars. Look at Sg shipyard, they secure 80% of the world's drilling rig upgrading and repairs.

 

It is not difficult to see if you read money section on newspapers, that which shipyard always gets the multi-million drilling projects.

 

The bottomline is this no leaders will want to offend these ppl for them to pull the plug and stop their upgrading works. In any case, if oil companies stop exploration works oil prices still goes up due to lack.