Oil companies are making big profits from the consumers out of this pandemic

[Ody_2004]

1 hour ago, Mockngbrd said:

Yes u are barking up wrong tree. Ppl here buy car use full cash one. 

but hoh they will go to fuel petrol coupon thread to collect coupon leh!

[Mockngbrd]

49 minutes ago, Ody_2004 said:

but hoh they will go to fuel petrol coupon thread to collect coupon leh!

Dun xia xuay... Disgrace! 

[Sx4falcon]

14 hours ago, Rickster said:

Erm...I don't think you get what he means...not talking about FC here.

Assuming your car full tank 60L, but because you pump half tank, so its only 30L. 

This means, if 10000 people who are suppose to pump 60L, pumps only 30L, the petrol company will have sold (10000 cars x 30L = 300,000L) less petrol. So where this 300K liters of petrol will go? They will take up inventory space - which means, cost to them.

On the cashflow front.. usually the company can get 10000 cars x 60L worth of petrol money at one go if everyone pump full tank. But because now, everyone only pump half tank worth of petrol at one go, they will collect only 50% of the revenue that they usually would get....and they will need to wait a few more days for the remaining 50% (10000 cars x 30L) worth of petrol to come in. This will hit their cashflow front.

While it is true that the net income to the petrol company will be the same, but where this hits will be on the burden of additional inventory (inventory cost and risk not being able to sell them off as fast) and let them wait longer for all the money to come in.

 

Not everyone pump at the same time. So the logic of collecting 50% of the revenue don't stand. It is going to be spread out whether we pump full tank or half tank or even $10 per top up.

Also the fuel are stored in the storage tanks at the pertol kiosk. So what's the additional inventory? 

Even if there are really additional cost, these cost will be factor in as part of the formula in deciding the price we are paying. And maybe even more because they need to buffer.  

[Theoldjaffa]

i wonder how

i wonder why

i wonder woman

i eat wanton mee

woof

[Wt_know]

20 minutes ago, Theoldjaffa said:

i wonder how

i wonder why

i wonder woman

i eat wanton mee

woof

what’s wrong to collect more?????????

[inlinesix]

Just go JB to pump petrol.  Don't feed the cartel.

[Knoobie]

19 hours ago, Enye said:

whatever thats happening in the singapore petrol market wont even cause a twitch in those oil moguls eyebrows

dont say laugh to the bank

🤣

not true. pretty sure their eyebrows are twitching when theres opportunity to increase price!

[iwonder]

I have just submitted an online enquiry to https://www.cccs.gov.sg/about-cccs/contact-us/general-online-form to complain about the 3 cents reduction in pump prices. Just doing my part to take on the oil cartel.  

[Sturtles]

On 3/12/2020 at 6:26 PM, Rickster said:

Erm...I don't think you get what he means...not talking about FC here.

Assuming your car full tank 60L, but because you pump half tank, so its only 30L. 

This means, if 10000 people who are suppose to pump 60L, pumps only 30L, the petrol company will have sold (10000 cars x 30L = 300,000L) less petrol. So where this 300K liters of petrol will go? They will take up inventory space - which means, cost to them.

On the cashflow front.. usually the company can get 10000 cars x 60L worth of petrol money at one go if everyone pump full tank. But because now, everyone only pump half tank worth of petrol at one go, they will collect only 50% of the revenue that they usually would get....and they will need to wait a few more days for the remaining 50% (10000 cars x 30L) worth of petrol to come in. This will hit their cashflow front.

While it is true that the net income to the petrol company will be the same, but where this hits will be on the burden of additional inventory (inventory cost and risk not being able to sell them off as fast) and let them wait longer for all the money to come in.

 

As there is no one company benefiting from this arrangement, and all looses out equally, the oligopoly will have a good reason to raise prices in concert against this cooperative attack.

In addition, that means more trips to the pump, equivalent to more revenue to the companies.

As such, this plan to a layman like me is horrendous, and makes me wonder the quality of leaders, and if indeed he was deciding strategies for NTUC income then.

I am happy many consumers whom could have benefitted from his 'leadership'.

Maybe that is why he is there, to provide the loss leader amongst the competing companies.

Should have let him head SPC after his first retirement

[Mustank]

6 hours ago, iwonder said:

I have just submitted an online enquiry to https://www.cccs.gov.sg/about-cccs/contact-us/general-online-form to complain about the 3 cents reduction in pump prices. Just doing my part to take on the oil cartel.  

Just vote with your wallet lah

 

[inlinesix]

RON100 ftw

[Cumzilla]

think write to media will be more effective then writing in this forum, let them question the cartel...

[1fast1]

30 minutes ago, Cumzilla said:

think write to media will be more effective then writing in this forum, let them question the cartel...

MSM part of cartel. The MIW Cartel. Biggest and baddest gangsters here. 😁

[Scion]

On 3/12/2020 at 4:52 PM, iwonder said:

Looking through the responses, I realised I am barking up the wrong tree. The forumers here don't really care about being ripped off by the big corporations. Please ignore the thread and I will try to delete the thread, if possible.

Edit: My apologies, there is no option to delete the thread. 

 

i was like you... also damn dulan last time, but really there's not much we can do due to this kelong oligopoly

unless we give up driving, or switch to electric cars

[Vinceng]

2 hours ago, Scion said:

i was like you... also damn dulan last time, but really there's not much we can do due to this kelong oligopoly

unless we give up driving, or switch to electric cars

Even if you switch to electric cars, you would still be paying petrol excise duty. The government plans to include the petrol excise duty component into the road tax of electric cars.

[Jusnel]

On 3/14/2020 at 10:28 AM, Vinceng said:

Even if you switch to electric cars, you would still be paying petrol excise duty. The government plans to include the petrol excise duty component into the road tax of electric cars.

Yes. I ever posted on how they arrive to the duty tax.  They simply take the projected cost of petrol that a car owner will pay for 10 years. 

[Windwaver]

Aiya, just pump electricity la 

[Tkseah]

I've been doing my part by pumping 50% lesser petrol over the past month..

 

cos working from home..