Friday July 18, 2008

Singapore petrol prices down another 4 cents on lower crude oil prices

This article belongs to the Singapore inflation watch story arc.

Pump prices at service stations across Singapore have been adjusted downwards for both petrol and diesel. The prices for all grades of petrol are down another 4 cents per litre, with RON98 at S$2.28 per litre, RON95 at $2.206, and RON92 at S$2.173. The move by Shell, SPC, ExxonMobil and Caltex comes a week after the fuel companies made a similar 4-cent price cut, the first after 14 consecutive price rises earlier. This time the cuts included a 2-cent reduction for diesel. This brings the price down to S$2.013 a litre, which is still over $2.00 per litre, and much higher than in the past. The price of crude oil dropped to $130 after staging its biggest fall in 17 years.

- Somehow I held off pumping petrol until late yesterday evening and to my surprise found that the petrol price had gone down another 4 cents. If only I had this sense of timing for my most recent crude oil purchase where I am down $10 per barrel already. That's okay, since Peak Oil has not been cancelled. All motorists (including myself heh heh), do enjoy your fill-ups at these prices while stocks last, because we will eventually be back on track again to $200 oil.

See also :

1. Singapore petrol prices increase second time in 10 days, up 14 times in past year
2. NYMEX crude oil tumbles over $5, price slide into second day
3. Singapore petrol prices lowered 4 cents after crude oil drop
4. NYMEX crude oil falls $10 on deep recession fears amidst stock market meltdown

Updated :

1. Singapore petrol prices drop 4 cents for third time in 2 weeks

(2008-07-18 13:52:31 SGT) [Energy] Permalink

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