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New petrol company Sinopec in SG.. lower prices coming?

Theoldjaffa

By Theoldjaffa,
in General Car Discussion

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xinz

xinz

3rd Gear

It is true that Sinopec pump price is much cheaper in HK. The rest just didn't budge, see chart.

 

 

 

Hong Kong tax ~S$10/10L - about 40% of their list price, cost of fuel is 24% and petrol companies make ~ 36%.

 

Singapore tax ~S$7/10L - about 35% of our list price, cost should be lower and hence petrol companies make the most. 

 

 

Hence, again from the chart, Sinopec reduces they profit from ~36% to ~22% to compete in Hong Kong, still make good profits.

 

 

If Singapore government intervene with higher tax, it would result in all other petrol companies raising their pump prices. Unless they insist Sinopec to join a Petrol Companies Whatsapp Group Chat and make the same fat margin, which is against the law.

 

post-190529-0-13244900-1506911675_thumb.jpg

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Picnic06-Biante15

Picnic06-Biante15

Supersonic
(edited)

That will make bad traffic to Yishun very worse.

 

No worries, they will make several roads leading to Yishun ..... [sly]

 

But will they think back.... spend millions building the roads only for 5 years ... :wut:

 

:XD:

Edited by Picnic06-Biante15
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Jwee85

Jwee85

5th Gear

news article already mentioned Sinopac will buy the fuel stock from Bukom SHELL.

The quality will be Nap Shot Curry Pok OK!!

It will be clean and good!

 

No worries, its the additives that will determine the RON quality. Additives are just chemicals.

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Sdf4786k

Sdf4786k

Twincharged

news article already mentioned Sinopac will buy the fuel stock from Bukom SHELL.

The quality will be Nap Shot Curry Pok OK!!

It will be clean and good!

 

No worries, its the additives that will determine the RON quality. Additives are just chemicals.

 

I think someone once mention to me Swenson ice cream made by cold storage with prefixed formulation.

 

So, does cold storage icecream equals Swenson.

 

It may be from the V power plant. But dont expect to be a rebranded V power. Process wise may be the same.

 

But then all cars comes with charcoal fuel filter elements. Cleaner fuel does not equal to making much difference.

 

I stand corrected if the cars are more then 20 to 30 years old type.

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xinz

xinz

3rd Gear

Don't hope for lower priced lah, otherwise Government will just make the necessary adjustments.

 

http://www.straitstimes.com/singapore/singapore-budget-2015-rise-in-petrol-duty-but-drivers-will-enjoy-road-tax-rebates

 

Quote from link (2015)

"Mr Tharman said he also had some good news for drivers: a one-year road tax rebate of 20 per cent for cars, 60 per cent for motorcycles and 100 per cent for the small number of commercial vehicles using petrol.

The road tax rebate will offset about two-thirds of the impact of the petrol duty change on intermediate grade petrol for a typical car. The one-year road tax rebate will cost the Government $144 million."

 

It is always such statement that Government wants us to know they are doing us a favor. It is like increase your rent but give you a free bedsheet but expect you to say thank you.  

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Atonchia

Atonchia

Supersonic

No worries, they will make several roads leading to Yishun ..... [sly]

 

But will they think back.... spend millions building the roads only for 5 years ... :wut:

 

:XD:

I last heard today announce traffic condition may improve.

Lol.....

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andrewyewkc

andrewyewkc

5th Gear

It is true that Sinopec pump price is much cheaper in HK. The rest just didn't budge, see chart.

 

 

 

Hong Kong tax ~S$10/10L - about 40% of their list price, cost of fuel is 24% and petrol companies make ~ 36%.

 

Singapore tax ~S$7/10L - about 35% of our list price, cost should be lower and hence petrol companies make the most. 

 

 

Hence, again from the chart, Sinopec reduces they profit from ~36% to ~22% to compete in Hong Kong, still make good profits.

 

 

If Singapore government intervene with higher tax, it would result in all other petrol companies raising their pump prices. Unless they insist Sinopec to join a Petrol Companies Whatsapp Group Chat and make the same fat margin, which is against the law.

Another graph I received, not sure how accurate.

post-158018-0-97546700-1507014110_thumb.jpg

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xinz

xinz

3rd Gear
(edited)

Another graph I received, not sure how accurate.

 

It is also correct when other indirect taxes are included. The GST and corporate tax is true, just not sure about the proportion of Land Tax to a litre, somewhat thereabout. From the chart can generalize a simple rule that Government take half of the fuel sales proceed.

 

Wonder what stun would Sinopec employs, I don't think selling at the same price works for them since we are so accustomed to the 4 existing companies here. Interesting to see how it unfolds.       

Edited by xinz
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andrewyewkc

andrewyewkc

5th Gear

It is also correct when other indirect taxes are included. The GST and corporate tax is true, just not sure about the proportion of Land Tax to a litre, somewhat thereabout. From the chart can generalize a simple rule that Government take half of the fuel sales proceed.

 

Wonder what stun would Sinopec employs, I don't think selling at the same price works for them since we are so accustomed to the 4 existing companies here. Interesting to see how it unfolds.       

I will rather the petrol company make the profit rather than we just pay more taxes. So that the petrol companies will have the margin to ensure that the proper additives are added into the petrol. Like the VPower in Singapore is different from VPower in JB.

 

Maybe Sinopec will hire good-looking kiosk attendants?

post-158018-0-05828100-1507017870.jpg

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Ysc3

Ysc3

Twincharged
(edited)

If Sinopec builds a station at Yishun Ave 1, and sells cheap, I'll definitely go there and pump.

 

Then it will follow by cheap petrol is lousy petrol comments. [laugh]

 

i dont care ... i go spc all of the time ... only visit the rest when they have special promos.

 

btw, my nearest is esso, followed by shell .... but i still go abit further to SPC.

 

unfortunately, i dont see any spare land near my place that can fit a petrol station ...

Maybe Sinopec will hire good-looking kiosk attendants?

i would prefer staff with better customer service.

 

so far i encountered a cashier who ensured that i got the extra discount just before the midnight cut-off, and a pump attendant who slipped me a discount coupon when i did not have one.

 

The road tax rebate will offset about two-thirds of the impact of the petrol duty change on intermediate grade petrol for a typical car. The one-year road tax rebate will cost the Government $144 million."

 

It is always such statement that Government wants us to know they are doing us a favor. It is like increase your rent but give you a free bedsheet but expect you to say thank you.  

 

on the contrary, he is actually telling us the govt is still making 600mil after the 20% disbursement.

Edited by Ysc3
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Beehive3783

Beehive3783

Turbocharged

My company's Esso fleet card only gives 12% discount off the pump prices.

 

That being said, we decided to discontinue the fleet card and use reimbursement system instead. Those credit card + petrol station member cards mostly give more than 12% discount.

 

You got apply for esso fleet card right? Total add up to 30% discount leh.. End up pump esso still more wu Hua if sinopec is just few cents cheaper.

 


This type of discussion cannot be done through WA. Have to go KTV or nightclub.

 


If Singapore government intervene with higher tax, it would result in all other petrol companies raising their pump prices. Unless they insist Sinopec to join a Petrol Companies Whatsapp Group Chat and make the same fat margin, which is against the law.

 

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Kusje

Kusje

Supersonic

My company's Esso fleet card only gives 12% discount off the pump prices.

 

That being said, we decided to discontinue the fleet card and use reimbursement system instead. Those credit card + petrol station member cards mostly give more than 12% discount.

 

 

This type of discussion cannot be done through WA. Have to go KTV or nightclub.

 

Company got clawback the CC cashback or not?  [sly]

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Buadongdong

Buadongdong

Twincharged
(edited)

It seems like its not all green in China afterall.. News of petrochina entering a slump doesn't sound like a good news to all of us especially those who pumps SPC.. Waiting to see how hard its gonna hit SG..

 

Mods, dunno if this is the right thread to post in. Pardon me if its wrong and merge it to the right place if deem inappropriate here.tks.

 

https://www.bloomberg.com/news/articles/2017-10-29/the-biggest-stock-collapse-in-world-history-has-no-end-in-sight?cmpid=socialflow-facebook-asia&utm_content=asia&utm_campaign=socialflow-organic&utm_source=facebook&utm_medium=social

Edited by Buadongdong
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Solar

Solar

Turbocharged

Hope they do away with pump attendants and self service kiosk. No frills petrol station with no shop, only for pumping petrol.

Once at Esso the pump handle was smeared with diesel.. kns..
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