kelaihoyin 5th Gear April 21, 2020 Share April 21, 2020 On 4/21/2020 at 8:50 AM, iwonder said: I have written to CCCS to complain and now writing to MTI. Got thrown with the textbook answers. Hope that they will take it more seriously with more people voicing our concerns. Expand All these are government entities. They have an avenue to complain but will never action on it one. Is all about the unseen money involved. ↡ Advertisement Link to post Share on other sites More sharing options...
sti2020 2nd Gear April 21, 2020 Share April 21, 2020 1cent per barrel now Link to post Share on other sites More sharing options...
Wt_know Supersonic April 21, 2020 Share April 21, 2020 On 4/21/2020 at 10:36 AM, sti2020 said: 1cent per barrel now Expand fck my $0.20 how ? lol .... Link to post Share on other sites More sharing options...
sti2020 2nd Gear April 21, 2020 Share April 21, 2020 On 4/21/2020 at 10:37 AM, Wt_know said: fck my $0.20 how ? lol .... Expand Tomorrow 100,000 barrel going your house Your $20k become $1k liao Link to post Share on other sites More sharing options...
Zxcvb Turbocharged April 21, 2020 Share April 21, 2020 On 4/21/2020 at 5:28 AM, Silver_blade said: ...and the fact they can control prices especially when the market is small that can support fewer competitors. Apart from oil producing countries, most others eg. EU, Asia, etc usually are facing the same problem. Expand Although Singapore is not a oil producing country, but we are a major oil refinery and petrol chemical country. Singapore is a important crude oil by-product processing country. We are not even importing gasoline/petrol, so why are we still paying high price petrol in this current climate?? Link to post Share on other sites More sharing options...
Silver_blade Turbocharged April 21, 2020 Share April 21, 2020 cos we do not own the oil? Link to post Share on other sites More sharing options...
Kb27 Supersonic April 21, 2020 Share April 21, 2020 Petrol price is complex. That's crude oil price and it can be $0, but you're not getting free petrol. Bcuz they still need energy, resources, to keep the refineries going, to turn crude into petrol. Then there's the govt tax 60 cents per litre + gst ++ dunno what else.. The pump price will never go below that. 3 Link to post Share on other sites More sharing options...
Meanmachine Supercharged April 22, 2020 Share April 22, 2020 On 3/21/2020 at 1:34 PM, Mustank said: Expand I am thankful for the lockdown and closure of the causeways, it's show how desperate both sides need one another, good and bad times aside, call for the waiver of 3/4 tanks rule, its time to go and go away permanently- Low crude price, Sp Petrol drop few cents High crude price-Oil Cartels first to increase, follow closely by all petrol kiosk company, Motorists suck thumb. Brent prices drop south to Zero, Zilch, to punish Arab World, the rest shake and poor motorists don't even get reprise of an Ocean wave shock ( don't talk about discount given ), it is different calculation, factoring in transportation, taxes, shipping, storage cost and filtering processing cost etc. We are suckers in all OPEC controlling bodies, those who drives has to bear these cost and expenses, not including road taxes and insurance cover etc. Its time to consider other cheaper mode of travelling. BMW is an option, bt not for now due to C19 Circuit Breakers enforcement. Link to post Share on other sites More sharing options...
iwonder 1st Gear April 22, 2020 Author Share April 22, 2020 As per the Straits Times today, the oil cartels will be having storage issues soon. Given the high margins the oil cartels continue to get in SG compared to other countries, they will start to dump more oil here. But no thanks to the CB extension, consumption is not gonna to increase anytime soon. Hope that more will be reported soon to drive down the crazy pump prices here. Link to post Share on other sites More sharing options...
Apple-Tree 6th Gear April 29, 2020 Share April 29, 2020 On 4/22/2020 at 6:51 AM, iwonder said: As per the Straits Times today, the oil cartels will be having storage issues soon. Given the high margins the oil cartels continue to get in SG compared to other countries, they will start to dump more oil here. But no thanks to the CB extension, consumption is not gonna to increase anytime soon. Hope that more will be reported soon to drive down the crazy pump prices here. Expand A lots and lots of people, companies, banks got burnt and burnt due to the NEVER happened before USD-37 Futures lor. The -37USD ONLY lasted 2 hours wor .....before closing higher -12 ?? or -4 ?? The best way is to pass the cost of losses to consumer lor. So, it is, they SCREW UP, we PAY UP lor ...... Think about it, big oil consumers like SIA, CDG, SMRT hedged energy one. Link to post Share on other sites More sharing options...
iwonder 1st Gear April 30, 2020 Author Share April 30, 2020 On 4/29/2020 at 1:30 PM, Apple-Tree said: A lots and lots of people, companies, banks got burnt and burnt due to the NEVER happened before USD-37 Futures lor. The -37USD ONLY lasted 2 hours wor .....before closing higher -12 ?? or -4 ?? The best way is to pass the cost of losses to consumer lor. So, it is, they SCREW UP, we PAY UP lor ...... Think about it, big oil consumers like SIA, CDG, SMRT hedged energy one. Expand Agreed, but this is more prevalent in SG as compared to the other countries. The Govt body monitoring this should step in and protect the consumers. Link to post Share on other sites More sharing options...
iwonder 1st Gear April 30, 2020 Author Share April 30, 2020 Another win as the pump prices have dropped by about 5 cents. Let’s get it going down further. Pump prices fall by up to 5 cents a litre a week after oil plunge https://www.straitstimes.com/singapore/transport/pump-prices-fall-by-up-to-5-cents-a-litre-a-week-after-oil-plunge?xtor=CS3-20&utm_source=STiPad&utm_medium=share&utm_term=2020-04-30 10%3A04%3A59 Link to post Share on other sites More sharing options...
Yewheng Twincharged April 30, 2020 Share April 30, 2020 Spc finally dropped petrol price for ron 95 to 2.04 and Ron92 to 2.00.. Link to post Share on other sites More sharing options...
Jusnel 6th Gear April 30, 2020 Share April 30, 2020 On 4/30/2020 at 2:50 AM, Yewheng said: Spc finally dropped petrol price for ron 95 to 2.04 and Ron92 to 2.00.. Expand Not low enough Link to post Share on other sites More sharing options...
Jellandross Supersonic April 30, 2020 Share April 30, 2020 I got a dumb question. Since there's oversupply of crude oil, why can't they "turn off the tap" at the source ah? Link to post Share on other sites More sharing options...
ToyotaShuttle 5th Gear April 30, 2020 Share April 30, 2020 On 4/30/2020 at 11:02 AM, Jellandross said: I got a dumb question. Since there's oversupply of crude oil, why can't they "turn off the tap" at the source ah? Expand Turning it off is not difficult. The difficult lies in turning it on again later on. Link to post Share on other sites More sharing options...
Raychay 6th Gear April 30, 2020 Share April 30, 2020 Previously when crude increased a little, petrol immediately up 5 cents. Now crude drop so much, petrol drop 5 cents nia! Link to post Share on other sites More sharing options...
iwonder 1st Gear May 1, 2020 Author Share May 1, 2020 On 4/30/2020 at 10:45 AM, Jusnel said: Not low enough Expand Agreed, let’s support the petition for more transparency to protect us as consumers. http://chng.it/yVWgSLy9dd ↡ Advertisement Link to post Share on other sites More sharing options...
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Oil drops under US$92 to 27-month low as supply glut grows
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