Monday July 28, 2008

Singapore petrol prices drop by 10 cents, largest in rapid succession of cuts

This article belongs to the Singapore inflation watch story arc.

channelnewsasia.com :

In the largest cut to date, pump prices of petrol and diesel have been adjusted down by 10 cents. As of 10am Monday [28 Jul 2008], stations run by SPC, Shell and Caltex had their pump prices down to S$2.110 for RON98 and S$2.036 and S$2.003 for RON95 and RON92 petrol respectively. With on-site discounts, this brings the mid-range 95 unleaded petrol below the two dollar mark for the first time in months. Diesel is now priced at S$1.863 per litre. Crude oil futures are holding steady and hovering at a seven-week low of about US$123 a barrel, despite talk over the weekend that the price of oil could drop to between US$70 and US$80.

- Enjoy the lower prices whilst stocks last. NYMEX crude oil prices seem to be firming up just a bit above $120 support. We haven't seen a drop yet to $110 or $100 and people are already talking about $70 and $80. It is a rather interesting sign, from a contrarian point of view.

See also :

1. Singapore petrol prices lowered 4 cents after crude oil drop
2. Singapore petrol prices down another 4 cents on lower crude oil prices
3. Singapore petrol prices drop 4 cents for third time in 2 weeks

(2008-07-28 23:07:20 SGT) [Energy] Permalink

Most popular blog postings on lowem.log :

1. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004
2. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
3. Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004
4. Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004
5. Live spot gold price quotes chart on COMEX
6. 2010 Honda Civic Hybrid preliminary specifications released
7. Fuel prices seen stoking Malaysia inflation in 2008
8. How to insert currency exchange rates into Google Spreadsheets

Featured articles on lowem.log :

1. ABC Guide to Beating Inflation in Singapore and Elsewhere
2. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
3. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
4. 67000 China factories closed in H1 2008 as global economic collapse takes hold
5. 2010 Honda Civic Hybrid preliminary specifications released
6. Peakoiler buys 2008 Honda Civic Hybrid FD3
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004