Pump prices at 2006 levels

[Blue2]

http://www.straitstimes.com/Breaking%2BNew...ory_309740.html

 

So is it true???and will it go lower???

[Rickster]

It will only go further down should OPEC not cut their supply drastically.

[Blue2]

dun noe when can they confirm their next round of meeting...

but think it might not have much effect on the price....

why...when demand is low...whatever "threats" they give oso no use....

[Tohto]

Not true if you consider price after discount (station + credit card discount). My record show that total discount on Aug - Dec 2006 average about 15-16%. Currently only about 10%+ (depend on credit card).

The cartel do not offer discount as high as last time.

[Jonbummer]

i think the main point lies somewhere at the end of the report..

let's enjoy while we can

 

main text:

-----------

PETROL and diesel now cost about what they used to two years ago, after pump prices fell again yesterday.

 

Shell cut its prices by four cents at noon, two weeks after pump prices were last lowered.

 

Caltex, Singapore Petroleum Company and ExxonMobil followed suit.

 

With the latest cuts, a litre of 92octane petrol now costs $1.563 before discount, almost two cents lower than the price in November 2006.

 

A litre of 95 octane is now going at $1.596, and 98 octane, at $1.67. Diesel costs $1.333 a litre.

 

Ultra-premium-grade petrol prices also came down by four cents. A litre of Shell's V-Power is $1.799, while Caltex Platinum retails at $1.796.

 

The latest round of price cuts is the 15th consecutive reduction since July, with the previous series of cuts already bringing prices down to their lowest levels in 20 months.

 

The latest adjustments come as crude oil prices slid to almost a three-year low in a market depressed by worries over the economy.

 

Light, sweet crude for January delivery closed at US$49.28 a barrel on Monday, after falling by US$5.15.

 

Mr Ng Weng Hoong, the editor of energy news portal EnergyAsia.com, said that while oil prices are expected to be pulled back in the coming months, consumers should not be lulled into a false sense of security.

 

'Supply issues are still a huge concern, and with consumption in most parts of the world still growing, it's very worrying,' he said.

[Blue2]

so based on your record 15-16% what is the net price since then...

[Blue2]

yup....It could go down further if....

[Jonbummer]

yup yup... which is why i do hope the price stabilized at this level

[Blue2]

I just hope that the pump price for example 95 could go down to level of 1.20 after discount....1.5+ is too much.....

[Tohto]

See below:

 

Date Service Station Price/Litre Price/L after Discount(16%)

1-Nov-06 Caltex 95 $1.664 $1.40

9-Nov-06 Caltex 95 $1.614 $1.36

15-Nov-06 Caltex 95 $1.614 $1.36

17-Nov-06 Caltex 95 $1.614 $1.36

Edited December 3, 2008 by Tohto

[Blue2]

wah.....u really keep all the records ah....*bow*

so my memory is still correct....I am looking more toward +/-1.20 for 95 grade....

Edited December 3, 2008 by Blue2

[Tohto]

I had a full record of pump history since Nov 2004.

[Blue2]

wah....u the man.....2004 if not wrong the net pump price is around 1-1.2???

[Tohto]

In mid 2005, there is 1 mth+ with discount of 25%, that is a real price war I think start by SPC. Now SPC also join the cartel already..

[Blue2]

no choice its like tat...would u not follow if u were any 1 of the companies...

[Slayer]

just my guess : about $1.5ish is reasonable. :)

[Passion]

when discount is at 25%,i pump diesel at if not wrong 60+ cents,the litre indicator runs faster than dollar indicator.which i was quite happy,5 dollars diesel i can get almost near 8 litres of diesel.Now?5 dollar i drive 4 kilometres all dried up,only 4 litres more only.times are bad

[Blue2]

sshhhh....if u say reasonable...mayb the price will not go down liao....

still I think 1.20 is reasonable...

 

if bro Totho can show the trend of the price is going down or remaining at 1.36 then we will know if its reasonable...

Edited December 3, 2008 by Blue2