SPC resists pump price increase a week after others raised rates

[kobayashiGT]

2 minutes ago, Wildfaye29 said:

SPC please continue to tahan. 

TAHAN!!!

You drive more, and pump more then they can tahan longer also. hahaha GDP mah.

[Zxcvb]

https://www.straitstimes.com/singapore/transport/esso-shell-reduce-pump-prices-after-spc-resists-previous-round-of-increases

SINGAPORE - American oil giant ExxonMobil, which markets the Esso brand of fuels, was the first to revert to previous pump prices at 4pm on Friday (May 29) afternoon, some two weeks after rival SPC resisted a previous increase.

Anglo-Dutch group Shell followed suit at 6pm on the same day.

According to Fuel Kaki - a fuel price tracker managed by the Consumers Association of Singapore - Esso and Shell pump prices are now largely where they were before the previous increase.

Esso's and Shell's 95-octane petrol is now retailing at $1.99 a litre before discount, while Esso's 92 - which Shell does not offer - is $1.95, matching SPC's rates. Esso's 98-octane is $2.36, while Shell's is $2.38. They are both still higher than SPC's $2.33 after the latest round of adjustments.

Esso and Shell diesels are both now $1.67 a litre, versus SPC's $1.64.

Shell's V-Power, which is marketed as a grade above 98, is $2.61 and still one cent higher than its price before the last increase.

Other players are expected to match Shell's and ExxonMobil's reductions. Sinopec, which takes it fuel supplies from Shell, is more likely to do so than others.

Although RBOB Gasoline, a publicly traded commodity and a proxy for wholesale petrol price, had dipped slightly this week, it is still noticeably higher than it was two weeks ago.

If the lone resistance by SPC persuaded other pump operators to backtrack on their increase, it would not be the first time.

Early this year, the Chinese-owned company also resisted a round of price increases which saw all the other players raising petrol and diesel prices by three cents a litre from Jan 6.

Within a week, the other players reverted to their previous rates.

Pump prices at Esso stations were the first to rise in the previous round of increases last Monday, which saw petrol and diesel rates climbing by around three cents a litre.

[Volvobrick]

Good for SPC, BUT no more discount vouchers after this month! 😭

[boonhat_91]

I apologise if this comment is inappropriate, mod pls delete if so.

Maybe SPC pricing dept all Muslim and this week busy celebrating Hari Raya, so they 'forgot' to match the price increase!😆

[Achee]

SPC is clearly now the petrol leader, Axxhole and Seehum gave up theirs

[mersaylee]

All hail SPC...I can go pump Asso liao 

[Spring]

Just went Esso to draw money from the ATM machine n saw a sign that showed pump price decrease by 3 cts.

I believe SPC’s actions or rather non action of not increasing their fuel prices forced Esso n gang to follow suit. Kudos to SPC for showing leadership n not taking advantage  by following suit when the other petrol firms raised their prices without basis recently.

[Hamburger]

Yesterday pump at spc then realized I cut away my everyday card some times ago. 

 

Less 6% discount. Lose already. 

[Ysc3]

55 minutes ago, Hamburger said:

Yesterday pump at spc then realized I cut away my everyday card some times ago. 

 

Less 6% discount. Lose already. 

I keep all my expired cards in a card file. 

[Ysc3]

1 hour ago, Spring said:

Just went Esso to draw money from the ATM machine n saw a sign that showed pump price decrease by 3 cts.

I believe SPC’s actions or rather non action of not increasing their fuel prices forced Esso n gang to follow suit. Kudos to SPC for showing leadership n not taking advantage  by following suit when the other petrol firms raised their prices without basis recently.

If the masses can continue to put pressure on the rest by just pumping at spc,  then it might force the rest to go even cheaper than spc... But then... 

[Mkl22]

59 minutes ago, Ysc3 said:

If the masses can continue to put pressure on the rest by just pumping at spc,  then it might force the rest to go even cheaper than spc... But then... 

Some say you get what you pay for. More expensive petrol is ALWAYS better! Malaysian petrol must be One of the worst ever. Hahhahaha

Edited May 30, 2020 by Mkl22

[Ysc3]

19 minutes ago, Mkl22 said:

Some say you get what you pay for. More expensive petrol is ALWAYS better! Malaysian petrol must be One of the worst ever. Hahhahaha

but then ....

[13177]

31 minutes ago, Mkl22 said:

Some say you get what you pay for. More expensive petrol is ALWAYS better! Malaysian petrol must be One of the worst ever. Hahhahaha

Maybe this is the reason why SPC can keep their price low? Cause some people say among all petrol companies, SPC petrol quality is the lowest? Lol.

[Spring]

2 hours ago, Ysc3 said:

If the masses can continue to put pressure on the rest by just pumping at spc,  then it might force the rest to go even cheaper than spc... But then... 

In theory this is doable but we all know in practice, this is unlikely in fact almost impossible to happen.

For various reasons, motorists will continue to pump at different brand stations. Some reasons can be individual preference, convenience of pump locations, perception of better quality fuel etc. 
 

The challenge to pressurise Fuel companies to price their fuel fairly is a marathon. I see some progress being made from petitions at Change.org, SPC bucking the trend on price increases, publicity n thus awareness etc. So small steps hv been achieved but I hope the associations like CASE to CCCS play their part but it sure doesn’t seem so

[yishunite]

5 hours ago, Hamburger said:

Yesterday pump at spc then realized I cut away my everyday card some times ago. 

 

Less 6% discount. Lose already. 

Consider it as small contribution to breaking the cartel wahahaha

[Carbon82]

Sinopec also same price (RON95) as SPC leh... 

[Wildfaye29]

every revert to 1.99 today liao

woohoo!

SPC wansui!!!!!

 

Edited May 30, 2020 by Wildfaye29
remove error photo

[iwonder]

Keep it up, SPC! Let them know who is the boss!