Petrol Price Movement in Singapore

[Albeniz]

On 3/19/2020 at 8:53 AM, iwonder said:

Don't fight among ourselves. We need to band together to make our voices heard as the pump prices have only dropped by 3 cents even though the crude oil prices have dropped by > 30% since 9 March 2020.

Yes.  Everybody should pump only 1/4 tank and then let the petrol companies hold on to their oil.  With the excess oil and no place to store, they will beg you to help dissipate these oil by reducing the pump price.

Who brinks first, loses.

[Thaiyotakamli]

21 minutes ago, Albeniz said:

Yes.  Everybody should pump only 1/4 tank and then let the petrol companies hold on to their oil.  With the excess oil and no place to store, they will beg you to help dissipate these oil by reducing the pump price.

Who brinks first, loses.

Everyone should park their car at home and take mrt, let petrol companies get stuck with their oil reserve, then not long they will start to give buy 1L free 1L😜

[13177]

43 minutes ago, Thaiyotakamli said:

Everyone should park their car at home and take mrt, let petrol companies get stuck with their oil reserve, then not long they will start to give buy 1L free 1L😜

Won't happen de, people with cars cannot possible to park their car at home and dont use de. Thats why petrol companies would not worry about their petrol even their price go up to rocket price. Lol.

[Albeniz]

3 minutes ago, 13177 said:

Won't happen de, people with cars cannot possible to park their car at home and dont use de. Thats why petrol companies would not worry about their petrol even their price go up to rocket price. Lol.

Only pump the bare minimum needed or as and when needed.

Let the oil companies hold on to the oil reserves.  We want to see oil over flowing from their containers.

Please don't pump full tank.

 

[yishunite]

10 hours ago, zipping said:

 

Why only talk about the speed of change rather than the proportion and scale of change

Agree with all above: pump $10 at a time until prices drop. Now most not driving so much

[Wildfaye29]

Hope more drop coming

[Fu11thr0tt1e]

1 hour ago, Wildfaye29 said:

Hope more drop coming

The tax alone is already $1. How to drop further????? 

[Locknload]

1 hour ago, Fu11thr0tt1e said:

The tax alone is already $1. How to drop further????? 

Hopefully the savings / rebates (for parking charges etc) that HSK just announced will filter down to the transport industry and see some savings for motorists in general.

[celios]

On 2/23/2013 at 11:40 PM, Cluboxed said:

got vpower promo this weekend..

still hv this month ?

[Fcw75]

4 hours ago, Fu11thr0tt1e said:

The tax alone is already $1. How to drop further????? 

No la, $0.65 per L.

[Kangadrool]

3 hours ago, Fcw75 said:

No la, $0.65 per L.

He round it up, full throttle. 😁

[zipping]

 

Forum: Petrol firms need to explain mystery behind pump pricing

 

In a photo from Feb 25, 2015, a petrol pump attendant fills petrol for a customer.PHOTO: ST FILE

Published

Mar 13, 2020, 5:00 am SGT

Senior Transport Correspondent Christopher Tan rightly highlighted that petrol prices are currently retailing at only between 4.7 per cent and 6 per cent lower than in January, whereas Brent crude price has fallen by more than 40 per cent during the same period (Pump prices here yet to reflect plunge in crude oil rates, March 10).

It has become somewhat of a tired observation that whenever crude prices rally, oil companies are quick to raise pump prices, but drag their feet when the converse happens.

Nevertheless, the Competition Commission of Singapore was reported as saying that it found "no significant" difference in the speed of change whether prices move up or down.

Even if I accept this, of significance is also the quantum of adjustment. The usual explanation is that crude oil forms only a part of the prices at the pumps, and that there are other costs like administration, marketing, storage, transportation, and so on.

If motorists were to accept this line of reasoning, then the conclusion is that the operations of these oil companies are so inefficient that the price of petrol is largely made up of cost of stuff other than that of crude oil.

Along this line of reasoning then we are also left puzzled as to why in the case of a crude price hike, crude oil price seems to suddenly become a significant component of retail pump prices for its hike to be reflected immediately.

Over time, all these lags have resulted in the retail price becoming somewhat of a high-level gauge: pushed up in a hike but slow to slide down. The cumulative effect over the years is obvious. Motorists today are paying prices not too far from when crude was at the peak of US$147 per barrel in mid-2008.

Petrol companies owe the motoring public an explanation for this mystery.

Peh Chwee Hoe

https://www.straitstimes.com/forum/petrol-firms-need-to-explain-mystery-behind-pump-pricing?utm_source=STTablet&utm_medium=share&utm_term=2020-03-26+22%3A39%3A00

 

 

[Tireburner]

Went to fill up at SPC Jurong East yesterday using a $6 voucher off with $60 purchased. With  additional 15% discount using POSB Everyday card, I got a total discount of 23.5% not counting the rebate given in next month.

Asked the cashier for the voucher in April but she said all have been given out already before yesterday. Anyone knows whether they will also give out in April, or when do they actually give out the vouchers? 

[CedricLPH]

6 hours ago, Tireburner said:

Went to fill up at SPC Jurong East yesterday using a $6 voucher off with $60 purchased. With  additional 15% discount using POSB Everyday card, I got a total discount of 23.5% not counting the rebate given in next month.

Asked the cashier for the voucher in April but she said all have been given out already before yesterday. Anyone knows whether they will also give out in April, or when do they actually give out the vouchers? 

Got voucher? How did you actually get the $6 off in the first place ?

[alpharome]

No one pump Sinopec here? 23% + 5% ocbc cc discount

[Tireburner]

3 hours ago, CedricLPH said:

Got voucher? How did you actually get the $6 off in the first place ?

Someone placed the vouchers on cars’ windscreens in my MSCP in December with 2pcs each in Dec and Mar and 4pcs each in Jan and Feb. Haven’t seen those vouchers since. 

[Gz0707]

11 hours ago, Tireburner said:

Went to fill up at SPC Jurong East yesterday using a $6 voucher off with $60 purchased. With  additional 15% discount using POSB Everyday card, I got a total discount of 23.5% not counting the rebate given in next month.

Asked the cashier for the voucher in April but she said all have been given out already before yesterday. Anyone knows whether they will also give out in April, or when do they actually give out the vouchers? 

that's the old discount voucher which expires in March.  the new ones is $5 off with $50 fuel purchase from april to june, only at JE station due to its renovation. Not sure if they are still giving it out now, got mine maybe 2 weeks ago. 

[yishunite]

Brent crude under $23/barrel