Jump to content

Petrol Price Movement in Singapore


Friendstar
 Share

Recommended Posts

10 hours ago, Karoon said:

I was from this industry. Last time when this happened, the company was already well-buffered, well-hedged, profits assured... the ceo then asked if people are still paying high prices, then push prices up, see how far can go.

It's not a charity, the profits will make him look good. He answers to the board  and no one else who got huge dividends,  who then gave him a massive bonus. Meanwhile, you and I, the end users, are well and truly f**ked.  

Shell.

Link to post
Share on other sites

Hypersonic

Govt still ‘watching’ after 2 months. 

 

SINGAPORE'S antitrust authorities are keeping a close watch to ensure petrol companies do not profiteer from the recent surge in crude oil prices that has occurred after war broke out in Ukraine, said Second Minister for Trade and Industry Tan See Leng on Thursday (Mar 10).

Responding to a parliamentary question from Sembawang GRC MP Lim Wee Kiak, Dr Tan said while pump prices are set by the market, the Competition and Consumer Commission of Singapore (CCCS) keeps a close watch to ensure an open and competitive market.

"If there is evidence of anti-competitive behaviour, such as coordinated price increases, CCCS will investigate and take firm enforcement action under the Competition Act," he said, adding that well-informed consumers are also a "key deterrent" against unreasonable pricing.

  • Angry 3
  • Sad 1
  • Haha! 8
Link to post
Share on other sites

12 minutes ago, Fcw75 said:

Govt still ‘watching’ after 2 months. 

 

SINGAPORE'S antitrust authorities are keeping a close watch to ensure petrol companies do not profiteer from the recent surge in crude oil prices that has occurred after war broke out in Ukraine, said Second Minister for Trade and Industry Tan See Leng on Thursday (Mar 10).

Responding to a parliamentary question from Sembawang GRC MP Lim Wee Kiak, Dr Tan said while pump prices are set by the market, the Competition and Consumer Commission of Singapore (CCCS) keeps a close watch to ensure an open and competitive market.

"If there is evidence of anti-competitive behaviour, such as coordinated price increases, CCCS will investigate and take firm enforcement action under the Competition Act," he said, adding that well-informed consumers are also a "key deterrent" against unreasonable pricing.

🥱🥱🥱

  • Haha! 6
Link to post
Share on other sites

1 hour ago, Fcw75 said:

Govt still ‘watching’ after 2 months. 

 

SINGAPORE'S antitrust authorities are keeping a close watch to ensure petrol companies do not profiteer from the recent surge in crude oil prices that has occurred after war broke out in Ukraine, said Second Minister for Trade and Industry Tan See Leng on Thursday (Mar 10).

Responding to a parliamentary question from Sembawang GRC MP Lim Wee Kiak, Dr Tan said while pump prices are set by the market, the Competition and Consumer Commission of Singapore (CCCS) keeps a close watch to ensure an open and competitive market.

"If there is evidence of anti-competitive behaviour, such as coordinated price increases, CCCS will investigate and take firm enforcement action under the Competition Act," he said, adding that well-informed consumers are also a "key deterrent" against unreasonable pricing.

Need whistleblower for anti-competition charges.

Looks like price fixing is not enough.

Link to post
Share on other sites

Supersonic

Supply and demand...  plus limitation of choices..

No one complains when they see the prices of the mee poks.. or complains that the Tai Wah Mee Pok now costs $9.. they move onto another stall.. or eat something else.

We don't have that many choices and we still need petrol.. 

  • Praise 2
  • Haha! 1
Link to post
Share on other sites

6 hours ago, therock said:

Supply and demand...  plus limitation of choices..

No one complains when they see the prices of the mee poks.. or complains that the Tai Wah Mee Pok now costs $9.. they move onto another stall.. or eat something else.

We don't have that many choices and we still need petrol.. 

the one at Crawford Lane is $9 now?? Wtf?

  • Haha! 1
Link to post
Share on other sites

Twincharged
13 hours ago, Fcw75 said:

Govt still ‘watching’ after 2 months. 

 

SINGAPORE'S antitrust authorities are keeping a close watch to ensure petrol companies do not profiteer from the recent surge in crude oil prices that has occurred after war broke out in Ukraine, said Second Minister for Trade and Industry Tan See Leng on Thursday (Mar 10).

Responding to a parliamentary question from Sembawang GRC MP Lim Wee Kiak, Dr Tan said while pump prices are set by the market, the Competition and Consumer Commission of Singapore (CCCS) keeps a close watch to ensure an open and competitive market.

"If there is evidence of anti-competitive behaviour, such as coordinated price increases, CCCS will investigate and take firm enforcement action under the Competition Act," he said, adding that well-informed consumers are also a "key deterrent" against unreasonable pricing.

When mentioned about profits, I “think “ he meant price gouging…

I suppose it’s time the taxes can be reduced to lowered the impact of the car owners.. 

else back to new normal n the road will be empty again as work from home has lesser need for fuel.

Link to post
Share on other sites

14 hours ago, Fcw75 said:

Govt still ‘watching’ after 2 months. 

 

SINGAPORE'S antitrust authorities are keeping a close watch to ensure petrol companies do not profiteer from the recent surge in crude oil prices that has occurred after war broke out in Ukraine, said Second Minister for Trade and Industry Tan See Leng on Thursday (Mar 10).

Responding to a parliamentary question from Sembawang GRC MP Lim Wee Kiak, Dr Tan said while pump prices are set by the market, the Competition and Consumer Commission of Singapore (CCCS) keeps a close watch to ensure an open and competitive market.

"If there is evidence of anti-competitive behaviour, such as coordinated price increases, CCCS will investigate and take firm enforcement action under the Competition Act," he said, adding that well-informed consumers are also a "key deterrent" against unreasonable pricing.

This "watching" or the relevant department is just a dummy act. Just to account to people that they are "doing something". To conclude, is just for show, nothing genuine.

  • Praise 1
  • Haha! 1
Link to post
Share on other sites

Hypersonic
35 minutes ago, Sdf4786k said:

When mentioned about profits, I “think “ he meant price gouging…

I suppose it’s time the taxes can be reduced to lowered the impact of the car owners.. 

else back to new normal n the road will be empty again as work from home has lesser need for fuel.

Wait long long for Mr Tan. Not Tan See Leng hor.


SINGAPORE: Singapore will not reduce or suspend fuel duties or provide road tax rebates despite the recent increase in pump prices, Finance Minister Lawrence Wong said on Monday (Apr 4), adding that these measures effectively amount to a subsidy on private transport and will have "counter-productive effects".

  • Praise 3
Link to post
Share on other sites

55 minutes ago, Sdf4786k said:

When mentioned about profits, I “think “ he meant price gouging…

I suppose it’s time the taxes can be reduced to lowered the impact of the car owners.. 

else back to new normal n the road will be empty again as work from home has lesser need for fuel.

 

19 minutes ago, Fcw75 said:

Wait long long for Mr Tan. Not Tan See Leng hor.


SINGAPORE: Singapore will not reduce or suspend fuel duties or provide road tax rebates despite the recent increase in pump prices, Finance Minister Lawrence Wong said on Monday (Apr 4), adding that these measures effectively amount to a subsidy on private transport and will have "counter-productive effects".

This year budget still deficit.

By temporary suspending petrol tax, where to find the income to patch the hole?

  • Praise 2
Link to post
Share on other sites

37 minutes ago, Heartbreakid said:

This "watching" or the relevant department is just a dummy act. Just to account to people that they are "doing something". To conclude, is just for show, nothing genuine.

Need evidence to prove collusion.

Of course, can only watch la.

What else can be done?

↡ Advertisement
Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...