Monday September 26, 2005

Petrol prices drop 3 cents

Just got an email from PetrolWatch. The announcement was short - "All Petrol and Diesel prices dropped by 3 cents today." Yeah, and I guess we should all be so damned thankful or something.

Or perhaps those who topped up a tankful over the weekend have something now to lament about. Me? Shrug, I did too, but it was with cheap JB petrol, at RM 1.610 per litre. So I can hardly complain - my grouses have more to do with the Causeway jams (Singapore customs - jammed in both directions, Malaysian side - all clear in both directions - go figure!)

My, my. Petrol pump prices are now being watched almost as closely as shares in the stock market, aren't they? You should see some of the earlier headlines over at their site - like, "Rumours are that some petrol prices will by raised by up to 9 cents from 6pm today!", "As of 6pm, ESSO & Mobil have increased their prices by 9 cents. Rumours are the rest will follow shortly!". Hurricane Katrina hit them badly? Prices going up!! Hurricane Rita wasn't that bad? Prices going down!!

It wasn't like this in the past. Watching petrol prices would have been akin to watching paint dry - there wasn't very much action at all. Well, the world is different now. Supply-demand constraints, you know. When there's no spare capacity, there isn't much room for a hurricane (or two).

(2005-09-26 14:45:45 SGT) [Musings] Permalink

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