Petrol Price Movement in Singapore

[Scion]

Crude and Brent have eased to near US100...

let's see if the damn petrol cartel will lower their prices this week or continue to di siao di gong

[mersaylee]

Some say petrol prices shoot up like a rocket but drop like a feather... 

I say it drops like a pubic hair...see no shadow one 😁

[Fcw75]

33 minutes ago, Scion said:

Crude and Brent have eased to near US100...

let's see if the damn petrol cartel will lower their prices this week or continue to di siao di gong

Govt still ‘watching’ and will take ‘enforcement’. 🙄🙄🙄

 

SINGAPORE - The Competition and Consumer Commission of Singapore (CCCS) is keeping a close watch on pump prices to make sure there is no anti-competitive behaviour among oil companies as global oil prices rise in the wake of the Russian invasion of Ukraine, said Manpower Minister Tan See Leng.

"If there is evidence of anti-competitive behaviour, such as coordinated price increases, CCCS will investigate and take firm enforcement action under the Competition Act," he said in Parliament on Thursday (March 10).

 

[Fitvip]

15 hours ago, therock said:

 

He must have learnt from Mr Beans!

[Fitvip]

@therock You must be using high SES fuel!

[Wildfaye29]

This to me is not anti competition.

This to me is blatantly profiteering from the current price of the commodity. 

How much of their current oil stock is purchased at the $130 mark?

Don't they have reserves of oil at lower levels?

Don't they hedge buying at lower prices already?

[therock]

12 minutes ago, Fitvip said:

@therock You must be using high SES fuel!

I listen to my service rep

98 makes a turbo run better… 

and it actually does so no choice 

but my usage isn’t too high 

I’ll pump twice a month typically 

[Monxtre]

@therock Everytime u pump is full tank or half tank? Mine's on turbo too but i switched to 95.

[therock]

20 minutes ago, Monxtre said:

@therock Everytime u pump is full tank or half tank? Mine's on turbo too but i switched to 95.

Depends

recently I pump when I sense prices may go up

one full tank can last almost one month ..

[Patwong]

Can try using this product below together with RON95.  

- www.maznitro.com

Not related to the company. One of the advertiser in this forum. 

Been using for at least 6 months for every pump (3 times per mth).

My non-turbo Mz6 2.0L. Engine felt more responsive.

No fuel saving tho, maybe my drive less than 4years.

 

[ER-3682]

6 minutes ago, Patwong said:

Can try using this product below together with RON95.  

- www.maznitro.com

Not related to the company. One of the advertiser in this forum. 

Been using for at least 6 months for every pump (3 times per mth).

My non-turbo Mz6 2.0L. Engine felt more responsive.

No fuel saving tho, maybe my drive less than 4years.

 

Must well direct pump 98 or V-Power.

[Wt_know]

Just now, ER-3682 said:

Must well direct pump 98 or V-Power.

yalor ... just get the real mccoy instead of adding snake oil ... same same but different ... lol

[Fcw75]

https://www.bloomberg.com/news/articles/2022-03-13/new-zealand-mulls-measures-to-reduce-gasoline-prices-after-surge?fbclid=IwAR1ThgEyJFtbK3ywPI78Jm91sI7HqOX05lr1c7D2jWJbWKZqajbShwSDjBg
 

New Zealand may announce measures Monday to reduce gasoline prices, possibly by temporarily lowering fuel taxes, Prime Minister Jacinda Ardern said.

Acknowledging for the first time that soaring inflation is causing a cost of living crisis for many families, Ardern said Cabinet will this afternoon consider ways to reduce pressure at the gasoline pump. 

Speaking to Radio New Zealand in another interview, Ardern indicated one measure under consideration was a temporary reduction in the excise tax on gasoline, which is used to fund things like road maintenance.

 

Singapore still ‘watching’.

Edited March 14, 2022 by Fcw75

[Heartlander]

1 hour ago, Wildfaye29 said:

This to me is not anti competition.

This to me is blatantly profiteering from the current price of the commodity. 

How much of their current oil stock is purchased at the $130 mark?

Don't they have reserves of oil at lower levels?

Don't they hedge buying at lower prices already?

I find your logic abit funny not that I am rich so is immune to the increase. Why you expecting the oil cartels to sell their stock wrt to their respective purchase price? Then how about asking those condo/landed/HDB owners to sell their houses at the prices they bought 20 or 30 years ago? I would be keen to get them. Think of another example, the price increase of used cars whenever there is COE rise.

Some will say this is because we are a free economy, if you want gov to insert itself into everything then do not complain later why it is involved in so many things like Fairprice. And if gov did come in to subsidise the petrol prices, then some will complain why gov do this as it only benefits the car owners? Never ending one.

[Scion]

1 hour ago, Fcw75 said:

https://www.bloomberg.com/news/articles/2022-03-13/new-zealand-mulls-measures-to-reduce-gasoline-prices-after-surge?fbclid=IwAR1ThgEyJFtbK3ywPI78Jm91sI7HqOX05lr1c7D2jWJbWKZqajbShwSDjBg
 

New Zealand may announce measures Monday to reduce gasoline prices, possibly by temporarily lowering fuel taxes, Prime Minister Jacinda Ardern said.

Acknowledging for the first time that soaring inflation is causing a cost of living crisis for many families, Ardern said Cabinet will this afternoon consider ways to reduce pressure at the gasoline pump. 

Speaking to Radio New Zealand in another interview, Ardern indicated one measure under consideration was a temporary reduction in the excise tax on gasoline, which is used to fund things like road maintenance.

 

Singapore still ‘watching’.

 

https://www.straitstimes.com/world/europe/france-announces-3-billion-fuel-aid-package-as-pump-prices-soar

France too

meanwhile, drivers here asked to compare prices and deter going to the expensive ones loll (when all are almost equally expensive) 😁

[Confusedboi]

4 hours ago, Fcw75 said:

Govt still ‘watching’ and will take ‘enforcement’. 🙄🙄🙄

 

SINGAPORE - The Competition and Consumer Commission of Singapore (CCCS) is keeping a close watch on pump prices to make sure there is no anti-competitive behaviour among oil companies as global oil prices rise in the wake of the Russian invasion of Ukraine, said Manpower Minister Tan See Leng.

"If there is evidence of anti-competitive behaviour, such as coordinated price increases, CCCS will investigate and take firm enforcement action under the Competition Act," he said in Parliament on Thursday (March 10).

 

knn gahmen knn, knn CCCS knn🙄

[DOBIEMKZ]

6 minutes ago, Scion said:

 

https://www.straitstimes.com/world/europe/france-announces-3-billion-fuel-aid-package-as-pump-prices-soar

France too

meanwhile, drivers here asked to compare prices and deter going to the expensive ones loll (when all are almost equally expensive) 😁

Reducing fuel taxes, fuel aid  etc etc, Singapore govt will avoid these like a taboo. ://  

[Fcw75]

Fuel taxes will be slashed by 25 cents a litre for the next three months - and public transport fares halved - as the government acts to counter soaring petrol prices. One petrol company made changes to its fuel price immediately.

https://www.rnz.co.nz/news/political/463279/public-transport-fares-to-be-halved-fuel-taxes-and-road-user-charges-reduced?fbclid=IwAR1OJf5fWgLzVmu-g6s0ZPXjwRChQfrF_a-qCBK2Utt5u1FX-RhEplvPuew

I thought our govt always like to follow others?

Edited March 14, 2022 by Fcw75