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Petrol Price drop 3.8 cents (2 Dec 08)


Ah_low
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The LOGIC is like this (I am being objective here, not taking any sides)

 

Mid 2005

Crude Oil price = USD 50-55

Unleaded 98 pump price = 1.607 per litre

 

Dec 2008

Crude Oil Price = USD 50-55

Uleaded 98 pump price = 1.670

 

When prices went from USD 50 to USD 140 (180% increase), UL98 price only went from 1.607 to 2.360, which is a 40% increase.

 

So when crude drops back to about USD 50-55, guess where pump prices end up, around the 1.60+ mark.

 

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INCIDENTALLY, Crude oil was about USD 15 / barrel in 1998 and pump price was about SGD 1 per litre. Crude is now 3.5x that level, so if pump prices went up the same amount, we would be paying $3.50 per litre now and $10.00 per litre at the peak.

 

 

Quite logical to me....

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but luckily we have people like Gerald Ee. These are the people who really puts the common folks as their priority. [thumbsup]

 

the fella is only a yes man to gahment,

Edited by Porche
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