Referring to the above extract from petrolwatch.com.sg, pump prices has dropped by 4 cents since 8 Aug 11. Although some may argue that the prices should have dropped by a larger margin, at least there is some savings. Motorists are not the only bunch who gains from lower crude oil prices. If you are a frequent traveler by air, do expect lower fuel surcharge as well.
Apart from cheaper petrol price, aspiring car owners who are deterred by the recent high COE prices can finally look forward to fulfilling their dreams. Poor economic sentiments usually translate to lower demand for consumer goods. In the first round of Aug 11 bidding results, COE has fallen across the board with CAT A showing the biggest decrease of $7,201. If your job is relatively safe from the effect of recession or you have a large cash reserve, it is a good time to do bargain hunting in the car market.
Economic downturn is not all that gloomy. Good buying opportunities in the car market (or even stock market to some) will arise. I would like to take this opportunity to wish all “Mycarforumers” a smooth ride during this period of economic uncertainty.