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LoginPetrol companies lower pump prices in Singapore by 4 cents
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Will govt change their mind about increasing the utilities bill for July since the petrol companies care enough to lower prices of petrol?
By Channel NewsAsia | Posted: 09 July 2008 1554 hrs
SINGAPORE: All four petrol companies in Singapore - Shell, Exxon-Mobil, Caltex and Singapore Petroleum Company - have lowered their pump prices by 4 cents a litre for petrol to reflect current market conditions.
Before any station discount, the 92-octane unleaded petrol is now priced at S$2.213 per litre, the 95-octane unleaded at S$2.246 a litre and the 98-octane grade petrol costs S$2.32 a litre.
The reduction in petrol prices on Wednesday is believed to be lead by Shell, which cut prices at 11am, followed by Exxon-Mobil at 1pm and then the other two companies.
There is no change in the diesel price, which stands at S$2.033.
The petrol companies had last increased pump prices for both petrol and diesel by 5 cents a litre just four days ago, on July 5.
Oil prices have fallen by about seven per cent since hitting a record high last Thursday, partly on easing concerns about Middle East geopolitical tensions.
The London Brent contract hit an all-time peak of US$146.69 and New York crude struck a record high of US$145.85 last Thursday.
After declining in the past few sessions, oil prices moved up by about one US dollar a barrel on Wednesday in Asian trading, following reports that Iran had test-fired missiles that could reach Israel and US bases in the region.
New York's main oil futures contract, light sweet crude for August delivery, rose US$1.08 to US$137.12 a barrel. The contract had tumbled by US$5.33 to close at US$136.04 at the New York Mercantile Exchange on Tuesday.
Brent North Sea oil for August delivery rose 97 cents to US$137.40 following a plunge of US$5.44 to US$136.43 in London on Tuesday. - CNA/al
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Lower utilities tariff? Don't dreamlah. It won't happen one. Anything gabermen increase will not decrease one. You're lucky gabermen never increase some more using the excuse to curb future rising cost of fuel so when it hit us again we won't feel the pinch any more. Immune!
Edited by BeautifulBetty 10 Jul `08, 10:47AM
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