Cost of living in Singapore

[LITTLEREDDOT]

ComfortDelGro to raise cab fares by around 8% in March​

ComfortDelGro said the flag-down fare of its taxis will rise by 20 cents from March 1, 2022. PHOTO: ST FILE

Christopher Tan
Senior Transport Correspondent

Feb 8, 2022

SINGAPORE - Leading taxi group ComfortDelGro will raise cab fares from March 1 - its first fare increase in a decade.
Confirming a report by The Straits Times two weeks ago, the listed company, which controls about 8,900 cabs or 60 per cent of the fleet here, said the flag-down fare will rise by 20 cents.
This means the starting fare of a Hyundai i40 cab will increase from $3.70 to $3.90, and that of a Toyota Prius, Hyundai Ioniq, and Hyundai Kona, as well as the starting fare of a LimoCab and MaxiCab, will increase from $3.90 to $4.10.
Distance and time-based charges will also rise. There will be a two-cent increase for distance rates from 22 cents to 24 cents for every 400m (or 350m after 10km) for normal taxis, and a three-cent increase from 30 cents to 33 cents for limousines.
Likewise, a two-cent increase from 22 cents to 24 cents for every 45 seconds of waiting time for normal taxis, and a three-cent increase from 30 cents to 33 cents for limousines will also take place.
With the increase, the fare for a 10km off-peak normal taxi trip is estimated to rise by 7.7 per cent or 84 cents - from $10.98 to $11.82.
The adjustment, which is almost identical to the one it made in 2011, is to "help cabbies defray higher operating costs resulting from rising fuel prices and inflation", ComfortDelGro said.

"In the last six months alone, fuel prices have increased by about 10 per cent on average, in line with rising oil prices as world economies continue to emerge from the pandemic," it added.
"Inflation has also been heading north. In fact, in the last decade, inflation has grown by close to 12 per cent."
ComfortDelGro added that cabbies' incomes have also been adversely impacted by the pandemic over the last two years, despite government relief and $206.5 million-worth of rental waivers the company has extended to its drivers.

ComfortDelGro private mobility group and taxi chief executive Jackson Chia said: "With rising fuel costs and inflation, the earnings of our cabbies have been hard hit. This fare adjustment will help our cabbies defray the higher costs of operation.
"Given that the last fare revision was more than a decade back, we seek the understanding and support of our commuters."

National Taxi Association adviser Yeo Wan Ling said: "We recognise that taxi fares need to match higher operating costs and have been in talks with ComfortDelGro on fare changes.
"We support the fare adjustments and hope that this move will help drivers better cope with rising costs."
As has happened in the past, the other four taxi operators are likely to follow ComfortDelGro's lead in raising fares.

Mr Neo Nam Heng, chairman of diversified motor group Prime, which operates Prime Taxi, said: “We will just about match their increases.”
Ms Jasmine Tan, general manager of second largest player Trans-Cab, which has around 2,400 taxis, said the company will discuss with its drivers’ union to determine how much it will adjust fares by.
“We will consult the ground and then inform the Public Transport Council,” she said.
Meanwhile, half an hour after ComfortDelGro announced its fare increase, the council replied to a query by The Straits Times filed two weeks ago that “it has been informed of ComfortDelGro’s intention” to raise taxi fares.

 

[LITTLEREDDOT]

HDB resale prices rise for 19th straight month in January but volume dips​

Last month, HDB resale flat prices rose at a quicker pace of 1.1 per cent compared with December's 0.8 per cent. ST PHOTO: KUA CHEE SIONG

Michelle Ng
Housing Correspondent

Feb 10, 2022


SINGAPORE - Housing Board (HDB) resale flats continue to be in demand as prices climbed for the 19th straight month in January, more than one month after property cooling measures were introduced to dampen the red-hot market.
Last month, HDB resale flat prices rose at a quicker pace of 1.1 per cent compared with December's 0.8 per cent, according to flash data from real estate portals 99.co and SRX on Thursday (Feb 10).
Price hikes were seen in both mature and non-mature estates and across all flat types, with prices of four-room units climbing the most at 1.8 per cent.
However, resale volume took a hit in January, edging up by just 0.6 per cent with 2,442 units changing hands compared with December's 2,428.
Ms Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, noted that even though last month's sales volume was 2.4 per cent lower than January 2020, it was still above the 12-month average of 2,432 units.
Most property analysts expect the HDB resale market to remain resilient despite the cooling measures, as first-time Singaporean home buyers, who form the bedrock of the demand pool, have not been significantly affected by the new property curbs.
Since Dec 16, the total debt servicing ratio for borrowers has been tightened from 60 per cent to 55 per cent, while loan-to-value limits for HDB housing loans have been reduced from 90 per cent to 85 per cent to cool the property market and encourage greater financial prudence.

The additional buyer's stamp duty rates were also raised, although levies for Singaporeans buying their first residential property remain at zero.
Ms Sun said: "As anticipated, the impact of the cooling measures seems to be minimal on the public housing segment. Genuine buyers continued to drive housing demand and those with immediate housing needs proceeded with their purchases."
The average waiting time for Build-To-Order (BTO) flats has risen to between four and five years, after accounting for construction delays brought about by the pandemic.

Before the pandemic, the waiting time for a standard BTO flat was between three and four years.
ERA Realty head of research and consultancy Nicholas Mak noted that the reduced volume last month could have been a result of slower seasonal market activities as Singaporeans prepare for Chinese New Year in early February.
In January, 27 HDB resale flats changed hands for at least $1 million, down from 38 in December.
Of the 27 units, six are in the Queenstown area while Kallang/Whampoa, Bishan and the central area saw four such transactions each.
The 27 million-dollar flats make up 1.1 per cent of last month's total resale transactions.

The most expensive resale flat last month was a five-room Design, Build and Sell Scheme unit at Natura Loft in Bishan that sold for $1,338,888.
Huttons Asia chief executive Mark Yip said last month's figures show that buyers appear "unmoved" by the promised pipeline of a larger supply of BTO flats as they continue to turn to the HDB resale market for their housing needs.
The HDB has committed to launching up to 23,000 BTO flats each year in 2022 and 2023 to meet the strong demand for public housing. The board said it is prepared to roll out up to 100,000 units from 2021 to 2025, if demands call for it.
On top of that, around 31,000 HDB flats in towns such as Bukit Batok, Punggol, Sembawang and Woodlands are expected to complete their mandatory five-year minimum occupation period this year.
The high number of units eligible for resale is expected to inject some fresh supply into the market and may result in downward pressure on prices for certain estates, say analysts.
PropNex Realty head of research and content Wong Siew Ying said the recovering job market and economic growth outlook are expected to continue to drive demand for resale flats, although it may be tampered by possible interest rate hikes and rising inflation.
"This may put pressure on HDB resale prices and rein in buying sentiment. We expect overall HDB resale prices to climb at a slower pace of 6 per cent to 8 per cent this year, easing from the 12.7 per cent increase last year," she added.

 

[mahjongking]

get rid of this fucking bunch of chobolans, inflation sure collapse

 

[LITTLEREDDOT]

get rid of this fucking bunch of chobolans, inflation sure collapse



View attachment 133818

11 of them in the photo. By getting rid of them, Sinkies save $11 million in salaries paid.

 

[mahjongking]

11 of them in the photo. By getting rid of them, Sinkies save $11 million in salaries paid.

closer to 15 mio, cheebye loong alone is 2.3mio,
makcik another 1.5mio, the rest of the rif raf is above 1 mio

salary is just a fucking smokescreen to let you guys bitch about it
the billions are in the connections and frivolous infrastructure like jewel or gardens by the bay

 

[JustOneSingh]

I just had a cup of milo kosong for $1.80ct at a kopitiam which i think is too much.

Bhai,

I home make.
Can make many cups of Milo Dinosaur.



.

 

[LITTLEREDDOT]

Revised ERP rates from 14 February 2022​

News Releases 10 Feb 2022 ERP rates
The Land Transport Authority (LTA) has completed its latest review of Electronic Road Pricing (ERP) rates.

2. Based on LTA’s monitoring of traffic conditions in January 2022, traffic speeds have remained generally optimal on all arterial roads, including those within the Central Business District. ERP charges will thus remain at $0 at these locations until the next review.

3. However, with the easing of workplace restrictions from 1 January, where 50% of those who can work from home are allowed to return to the office, traffic has built up at certain stretches on the Ayer Rajah Expressway (AYE) and Central Expressway (CTE).

4. To manage congestion at these locations, ERP rates will be adjusted by $1.00 with effect from 14 February 2022 at the following gantries during the specified time periods. Following this adjustment, majority of ERP gantries remain unpriced and ERP will be charged at only 7 locations, compared to 29 locations pre-COVID.

Time Period​	Current ERP Rates*​	ERP Rates** w.e.f. 14 February 2022​
AYE after Jurong Town Hall towards City (Set of 3 Gantries)​
8:00 - 8:30​	$0.00​	$1.00​
8:30 - 9:30​	$1.00​	$2.00​
AYE after North Buona Vista towards Tuas​
18:00 - 19:00​	$0.00​	$1.00​
Southbound CTE after Braddell Road & PIE Slip Road into Southbound CTE (Set of 4 Gantries)​
9:30 - 10:00​	$1.00​	$2.00​
Northbound CTE after PIE (Set of 2 Gantries)​
17:30 - 18:00​	$1.00​	$2.00​
18:30 - 19:00​	$2.00​	$3.00​
19:00 – 19:30​	$0.00​	$1.00​

*ERP rate per Passenger Car Unit (PCU)
**Rates for other time slots at previously announced gantries remain unchanged


5. Rates for other previously announced time-slots/ gantries remain unchanged.

6. LTA will continue to monitor traffic speeds and congestion levels closely and assess if ERP rates need to be further adjusted as safe management measures continue to evolve.

 

[LITTLEREDDOT]

ERP rates to rise by $1 at some gantries on AYE and CTE from Feb 14​

The Land Transport Authority will revise ERP rates from Feb 14. PHOTO: ST FILE

Isabelle Liew

Feb 10, 2022

SINGAPORE - Electronic Road Pricing (ERP) rates at some gantries will be increased by $1 from next Monday (Feb 14).
The Land Transport Authority (LTA) announced on Thursday (Feb 10) that the changes are aimed at managing congestion along some stretches on the Ayer Rajah Expressway (AYE) and Central Expressway (CTE).
This comes as more people return to the workplace following the easing of restrictions in January, where 50 per cent of those who can work from home are allowed to return to the workplace.
The adjustments apply to three gantries on the AYE after Jurong Town Hall towards the city, with the ERP charge at $1 from 8am to 8.30am, and $2 from 8.30am to 9.30am.
On the AYE after North Buona Vista towards Tuas, there will be a $1 charge between 6pm and 7pm.
Four gantries on the southbound CTE after Braddell Road and the Pan-Island Expressway (PIE) slip road into the southbound CTE will have a $2 charge between 9.30am and 10am, up from the current $1.
Two gantries on the northbound CTE after PIE will have a $2 charge between 5.30pm and 6pm. Between 6.30pm and 7pm, the charge will be $3, while between 7pm and 7.30pm, it will be $1.

With the adjustments, there will be ERP charges at seven locations, compared with 29 locations before the Covid-19 pandemic began, LTA said.
The authority added that based on its monitoring of traffic conditions in January, traffic speeds have remained "generally optimal" on all arterial roads, including those within the Central Business District.
There will be no ERP charges at these locations.

 

[ginfreely]

It’s been 5.5 months since I left and the malicious dogs cottonmouth aka glockman aka Jeremy Quek as per hint by jw5 (and sweetiepie etc) are allowed by Leongsam to smear and insult me slut whore mistress with no consequence. I have to inform Leongsam to delete the posts and sometimes to no avail and i am sick of it. So Leongsam did not follow his deal to get his moderators to remove posts speaking ill of me so here I am carrying out my vow to spam the forum if cottonmouth is allowed to spam in my threads without consequence - which cottonmouth obviously did and was allowed - and he has been allowed in this 5.5 months no need follow his agreement to stop insulting me and continued to smear and insult me whore just yesterday and insulted me have std one day before that and everyday with no consequence.

Another thing to highlight is I realised after I left forum that @strawberry = @kaninabuchaojibye and I already know @nightsafari = @kaninabuchaojibye i.e despicable nightsafari is the strawberry that started the thread Who is Ginfreely sugar daddy and then keep upping it on the pretext of asking about strawberry. No wonder so pretentious always pretending to like my Hokkien threads while stabbing me non stop.

 

[LITTLEREDDOT]

COE premiums for small cars rise above $60,000 for first time since 2015​

The bidding exercise was the first under the new reduced quota. ST PHOTO: CHONG JUN LIANG
Lee Nian Tjoe
Senior Transport Correspondent

FEB 9, 2022

SINGAPORE - Certificate of Entitlement (COE) premiums rose for all categories on Wednesday (Feb 9), at the first bidding exercise under the new reduced quota.
Premiums for small cars up to 1,600cc and 130hp hit $60,761, a 4.9 per cent increase from the last tender. Premiums for this category last breached $60,000 in June 2015.
In percentage terms, the biggest mover was the category for bigger cars, with a 5 per cent increase to end at $86,102.
The COE premium for the Open category rose by 3.7 per cent to $87,000.
Motor traders said they expected the rise, given that it has been three weeks since the last bidding. This means there was more time for traders to accumulate orders.
Other than a few exceptions, COE tenders are typically held two weeks apart.
The number of COEs available for bidding is updated every three months. The figure is driven mainly by the number of vehicles that are deregistered.

The total quota for the February to April period is 10,452 COEs spread across five categories. It is 1.3 per cent lower than the November to January period.
The overall drop in the quota was one factor that could explain the rise in COE prices, said Mr David Shui, general manager for sales and product at Mazda.
Mr Nicholas Wong, general manager of Kah Motors, said he was anticipating the COE premium for cars above 1,600cc and 130hp to soften in this round of bidding.
There are now more Open category COEs available than in the previous three-month period. While this type of COE can be used for all vehicle types except for motorcycles, they tend to be used for larger cars.
“When you add the quota for the two categories together, there are actually more COEs for the larger cars than before, and yet premiums for Open and large cars went up,” said Mr Wong.
Looking ahead, he said he expects the COE Open category to soften but not by much, given that the supply of COEs overall is still low.
Commercial vehicle COEs also nudged upwards by 2.3 per cent, hitting $44,001.
Motorcycle COEs, which hit a record high of $10,000 in the last bidding exercise, rose by $10 on Wednesday.

 

[LITTLEREDDOT]

Motorcycle COEs, which hit an all-time record of $10k, look set to stay high for some time​

The industry is not confident that COE premiums will come down after breaching the $10,000 mark. ST PHOTO: KUA CHEE SIONG
Lee Nian Tjoe
Senior Transport Correspondent

FEB 1, 2022

SINGAPORE - Certificate of Entitlement (COE) premiums for motorcycles hit a record high of $10,000 at the most recent bidding exercise on Jan 19.
Premiums for this COE category have risen considerably since the second half of 2021, and motorcycle traders had anticipated that premiums would eventually breach the five-digit mark. It was below $4,000 in January 2020, and rose to $7,500 at the same month last year.
The cause of the consistently high prices is demand outstripping supply.
The monthly quota of COEs for motorcycles was cut from 1,228 for the May to July 2021 period to 889 for August to October, a reduction of 27.6 per cent. Correspondingly, motorcycle COE prices zoomed past the $8,000 mark in this period and have not looked back.
The strong demand has been attributed largely to more people ordering in food - a trend accelerated by the Covid-19 pandemic. More than 70 per cent of the 141,594 motorcycles on Singapore's roads have engines that are below 300cc - these are the working bikes, popular with food delivery riders as well as younger and new riders.
More expensive COEs allow financially stronger players to keep out competition.
Industry watchers say there may be traders who are bidding aggressively to chase up premiums.

The claim cannot be conclusively proven, but there were months with disproportionately more unused motorcycle COEs than in other vehicle categories, hinting that the high bids were made without actual demand to register motorcycles. The unused COEs are then pooled back for bidding in the subsequent quota period.
This trend appears to have subsided since July 2020 when COE bidding resumed after it was suspended during the country's circuit breaker measures. In more recent months, there were barely any unused motorcycle COEs - suggesting that there is genuinely more demand than the shrinking quota can support.
The last three-month period with a smaller motorcycle quota was between February and April 2017, when only 692 motorcycle COEs were available each month. Premiums did spike once, hitting $8,081, but fell at the next bidding exercise and continued to dip in the subsequent months.

This time around, the industry is not confident that COE premiums will come down after breaching the $10,000 mark.

Why it matters​

The concern is that this extraordinarily high COE premium may persist and become a new norm.
The price of the COE forms a significant part of the overall motorcycle cost.
Take the example of a Yamaha Aerox 155, a popular choice for new riders.
The 155cc motorcycle costs just over $3,000 after taxes, excluding COE. After the dealer's commission, the advertised price for the bike is around $5,000 without COE and insurance.
Add the current $10,000 COE premium and the final price is in the region of $15,000. Amortised over the 10-year lifespan of the COE, the bike will cost the rider $1,500 annually, before accounting for loan interest.
Going for a used bike isn't any better. Based on the prices posted on popular motorcycle website SGbikemart, preowned Aerox bikes that are more than 2½ years old are listed for sale in the region of $10,000. Bearing in mind that the COE premiums for motorcycles in 2019 was between $2,889 and $4,400, these used bikes are now asking for more than what they were costing new.
In addition, there is only one category of COE for all motorcycles, unlike cars.
So the same $10,000 COE can be used on the 155cc Yamaha or a 999cc BMW S 1000 RR sport bike that costs above $60,000.
Given the limited COE supply, the buyer of a super bike is probably more willing and more able to afford the high COE premium, however grudgingly. Contrast that to the more cash-strapped buyer looking for a vehicle to do food delivery.

Some are like Mr Gerald Ang, 26, who chose to do food delivery because he needed the flexibility to complete his full-time studies in physiotherapy.
He started his stint with Deliveroo as a cyclist but switched to a motorbike when he got his Class 2B licence. Being able to complete more jobs on the motorcycle translates to more earnings.
He paid $7,500 for his used Yamaha Sniper 150 with eight years remaining in 2019. The bike's COE was around $2,000. With the COE premium as high as it is today, Mr Ang believes it will be much harder for newcomers to afford a motorcycle to do deliveries.
It is common practice for motorbike shops to extend in-house loans to customers.
Anecdotally, more companies are offering leasing deals as an alternative for those who are unable to fork out the increasingly bigger down payment needed with traditional hire-purchase arrangements.
For in-house loans, interest rates for these arrangements can range from 2 to 4 per cent for seven years, after a down payment of 10 per cent. But it is not uncommon to find deals with longer loan periods and even zero initial outlays, albeit with higher interest rates.
Unlike with private cars, motorcycles are not subject to the same loan restriction requirements. This also means that people taking up these deals may be entering into deals that they can ill afford but have little other alternative.

What's next​

The Singapore Motor Cycle Trade Association (SMCTA), which represents more than 150 companies, submitted a proposal to the Land Transport Authority last September to tweak the mechanics of bidding for motorcycle COEs.
At that time, premiums were hovering around $9,000.
The bidding deposit is just $200 for motorcycles, unlike other categories which have a $10,000 deposit for each COE. This is forfeited if the secured COE is not used within six months.
SMCTA suggested increasing the deposit amount and shortening the validity period to discourage speculative bidding.
In response, the LTA said it will monitor the situation closely before deciding on next steps. The association intends to continue engaging the Government on this front.
Based on the most recent Food Trends Report published by Grab, the practice of ordering in meals around the clock is set to stay.
That means that demand for food deliveries is unlikely to ease. The supply of COEs for all categories will stay low for now, in keeping with the LTA maintaining the zero growth rate per year for cars and motorcycles until 2025.
Unless food delivery riders can switch to other forms of transport to do their job - which looks unlikely - motorcycle COE premiums look set to stay high for quite a while.

 

[LITTLEREDDOT]

Pump prices post double-digit increases in two weeks on the back of costlier oil​

The sharpest increases were for diesel, with posted rates going up by between eight and 11 cents since Jan 31, 2022. PHOTO: ST FILE

Christopher Tan
Senior Transport Correspondent

Feb 14, 2022

SINGAPORE - Pump prices have risen again, up by as much as 11 cents a litre in the latest adjustment, driven by higher crude oil and product costs.
According to Fuel Kaki, a petrol and diesel price tracker set up by the Consumers Association of Singapore, the sharpest increases were for diesel, with posted rates going up by between eight and 11 cents since Jan 31.
Diesel at Caltex and Shell is now $2.36 a litre before discount, and $2.31 at Esso, Sinopec and SPC.
A 10-cent rise means that a taxi driver covering 3,000km a month and filling up at these public stations will incur around $30 more in monthly expenses.
A diesel delivery van logging 4,000km a month will pay $40 more.
Motorists are not spared. Petrol prices have gone up by between five and 10 cents. The only exception is Sinopec's so-called premium grade, which has been adjusted downwards by six cents to $3.23 a litre.
Caltex, Esso and SPC - the only players offering 92-octane fuel - are posting a uniform $2.72 a litre for the cheapest grade of petrol which is usable by most cars here. This translates to a five-cent increase at Caltex, a seven-cent rise for Esso and a 10-cent spike for SPC.

The popular 95-octane is up too, with Caltex and Shell posting a price of $2.78 a litre (up by six cents), Esso and Sinopec advertising $2.76 (up by seven cents) and SPC retailing at $2.75 (up 10 cents).
The 98-octane petrol, unnecessary for most cars here, is $3.23 a litre at Esso (up seven cents), Sinopec (up seven cents) and SPC (up 10 cents); and $3.27 at Shell (up six cents).
The so-called premium 98-grade is going for $3.44 at Caltex (up nine cents), $3.49 at Shell (up six cents) and $3.23 a litre at Sinopec (down by six cents). Only these three brands offer this grade.

Going by brands, SPC has posted the biggest increases, with prices for petrol rising by 10 cents and diesel by 11 cents.
The China-owned retailer, however, is still among the cheapest after discount, although its lead has narrowed substantially with the latest changes. Its diesel is $1.85 a litre after credit card discounts - the lowest among retailers with a sizeable network.
Its fellow Chinese brand Sinopec, which has only three outlets, offers diesel at $1.80 a litre after discount.
The priciest diesel is at Shell, which is selling it at $2.12 a litre with the UOB One card and $2.03 with other cards.

For the best-selling 95-grade petrol, Sinopec is cheapest at $2.16 a litre, followed by Caltex ($2.25 with OCBC Voyage card) and Esso ($2.26 with DBS Esso card).
Surprisingly, SPC's across-the-board discounted price of $2.34 a litre for 95-octane fuel is higher than several card-discounted rates at Caltex and Esso.
Commenting on this, oil industry consultant Ong Eng Tong said it could be that the company has realised it could no longer compete on price against newcomer Sinopec, and that it was now focusing on margin.
“If it (SPC) lowers its price to compete with Sinopec, and if its volume does not increase, it will be in trouble,” Mr Ong added.
For 92-octane, Caltex has the cheapest offer of $2.20 (OCBC Voyage card), followed by Esso's $2.23 (DBS Esso card). SPC's $2.31 a litre across the board is the priciest among the three brands.
Brent crude oil price last traded at US$91.41 on Nasdaq, its highest in at least a year. RBOB gasoline, a publicly traded commodity and a proxy for wholesale petrol price, last closed at US$2.76 per gallon, nearly 70 per cent higher than a year ago.
In the same time frame, pump prices here have climbed by 28 per cent for diesel, and between 25 and 27 per cent for petrol.

 

[LITTLEREDDOT]

Forum: Electricity cost spike putting a strain on condominium's finances​

Feb 17, 2022

As volunteer chairman of my condominium's management council, I have been losing sleep over how the spike in electricity prices has had a major impact on residents of the estate.
Over the last six months, the condominium's electricity bill has spiked by 300 per cent. Running the entire estate with the increasing electricity cost is not sustainable, even with the energy-saving efforts and investments we made early last year.
We are considered a commercial electricity consumer and cannot apply for the regulated tariff rate.
We have been trying to obtain a fixed price plan from a power generation company or electricity retailer since November last year without any success.
We've had no option but to buy electricity from the wholesale market, where prices can fluctuate wildly.
Even at non-peak prices, we'd be paying $70,000 for one month of electricity supply. That's close to the entire monthly cost of running our estate.
Now that the Temporary Electricity Contracting Support Scheme has been extended to May (Electricity scheme for commercial users to be extended, Feb 15), I hope things will be better.

I also wonder how other management councils are coping.

Nicholas Chew Chih Loong

 

[LITTLEREDDOT]

All other taxi operators in S'pore to follow ComfortDelGro in raising fares​

The operators will have to inform commuters about the new fares at least seven days before the adjustments kick in. ST PHOTO: JASON QUAH

Clement Yong

Feb 25, 2022

SINGAPORE - Two weeks after leading taxi group ComfortDelGro decided to raise fares from March 1, other taxi operators TransCab, Prime Taxi, Premier Taxi and Strides Taxi are set to follow.
A statement from the Public Transport Council (PTC) on Friday (Feb 25) confirmed that these operators have informed it of their decision to raise fares. No details were revealed.
The operators will have to inform commuters about the new fares at least seven days before the adjustments kick in.
The Straits Times had reported earlier that other taxi operators were likely to follow ComfortDelGro's move early this month, falling in step with the taxi operator which controls about 8,900 cabs or 60 per cent of the fleet here.
The last fare adjustment in 2011 saw a similar sequence, when TransCab, Prime Taxi, Premier Taxi and Strides Taxi all raised fares after ComfortDelGro raised its flag-down fare of normal taxis by 20 cents and distance fares by two cents.
This time, ComfortDelGro's flag-down fare will similarly rise by 20 cents.
Distance and time-based charges will also increase, with a two-cent rise for every 400m (or 350m after 10km) and a two-cent increase for every 45 seconds of waiting time for normal taxis.

ComfortDelGro had said the fare hike was to defray higher operating costs from rising fuel prices - which have been steadily rising since mid-2020 - and inflation, as well as to support falling cabbies' incomes with ridership still lower than what it was pre-pandemic.
ST understands that all companies will have slightly different plans for the fare hikes.
Industry sources said only flag-down rates should be affected for normal taxis, with distance and time rates staying the same.
Fare hikes should kick in about a week after ComfortDelGro’s increase, on March 7 or 8.
Taxi fares have been deregulated since 1998, which means the PTC does not intervene in setting taxi and private hire car (PHC) fares.
Taxi and PHC operators have to inform PTC of its fare increases so that prices remain transparent and commuters know the additional charges that may be levied when they hire a taxi.
"This allows demand and supply for such services to be matched efficiently based on prevailing market conditions, while spurring operators to improve their service offerings and to maintain competitiveness in their fares," PTC said.
ST has reached out to the various taxi operators for comment.

 

[LITTLEREDDOT]

All petrol prices in S'pore now start from $3 a litre, with one grade nearing $4​

The latest changes translate to increases of between eight and 17 cents a litre for 95-octane petrol, the most popular grade here. ST PHOTO: ARIFFIN JAMAR

Christopher Tan
Senior Transport Correspondent

Mar 8, 2022

SINGAPORE - All petrol prices are now $3 or more a litre here, with one grade nearing $4 a litre as oil prices breach US$130 per barrel.
According to Consumers Association of Singapore's pump price tracker Fuel Kaki, China-owned SPC was the last to raise prices on Wednesday afternoon (March 9), joining the other four oil companies - Caltex, Esso, Shell and Sinopec - in posting petrol prices from $3.
A litre of 92-octane fuel, which can be used by the majority of cars here, is a uniform $3 at Caltex, Esso and SPC stations. Shell and Sinopec do not offer this grade.
A litre of 95-octane petrol ranges from $3.03 (SPC) to $3.23 (Shell), while a litre of 98-octane is $3.72 at Shell and $3.51 elsewhere.
The so-called premium grade 98-octane is $3.64 at Sinopec, $3.72 at Caltex and $3.94 at Shell.
The latest changes translate to increases of between eight and 17 cents a litre for 95-octane petrol, the most popular grade here. Since Feb 14, this grade has climbed as much as 45 cents, or 16 per cent.
After discounts, the lowest price for 95-octane is $2.38, at three stations run by Sinopec. Among brands with sizeable networks, prices range from $2.48 (Caltex) to $2.91 (Shell).

For 92-octane fuels, prices range from $2.43 (Caltex) to $2.58 (Esso). Prices of 98-octane after discount range from $2.76 (Sinopec) to $3.35 (Shell). And for the premium grade, the range is from $2.84 (Sinopec) to $3.55 (Shell).
Brent crude oil has risen by around 35 per cent since Feb 14 to hit an intra-day high of US$131.60 on Wednesday, with the sharpest ascent posted from Feb 24 - the day Russia invaded Ukraine. RBOB gasoline, a proxy to wholesale petrol, climbed 34 per cent to US$3.72 a gallon in the same time frame.
Oil traders are now predicting that Brent - a benchmark crude - will hit US$200 a barrel if Europe and the US ban Russian oil imports.
Traders last predicted US$200 oil back in the mid-noughties. The commodity hit an all-time high of US$147 a barrel just before the 2008 global financial crisis brought prices back down to earth.

 

[winners]

Where got poor people?

COE prices rise across all categories at end of March 9 bidding exercise​

AFP

Updated March 9, 2022

SINGAPORE — Certificate of Entitlement (COE) prices rose across all categories at the end of the latest bidding exercise on Wednesday (March 9).
This is the fourth consecutive COE bidding since Jan 19 that premiums have risen across all categories of vehicles.
Premiums for small cars (up to 1,600cc & 97kW) went up by 8.73 per cent to S$68,501.
For large cars (above 1,600cc or 97kW), premiums increased from S$93,590 in the previous bidding exercise to S$94,889.
For goods vehicles and buses, COE prices rose by 5.14 per cent to S$48,889.
In the motorcycle category, premiums climbed to S$11,400, compared to S$10,589 in the previous bidding exercise.
Finally, in the open category, which can be used for any type of vehicles, premiums went up by 6.22 per cent to S$98,890.
NUMBERS AT A GLANCE:
Cat A (Cars up to 1,600cc & 97kW): S$68,501 (up from S$63,000)
Cat B (Cars above 1,600cc or 97kW): S$94,889 (up from S$93,590)
Cat C (Goods vehicles and buses): S$48,889 (up from S$46,501)
Cat D (Motorcycles): S$11,400 (up from S$10,589)
Cat E (Open category): S$98,890 (up from S$93,102)

Source: https://www.todayonline.com/singapo...tegories-end-march-9-bidding-exercise-1841271

 

[tobelightlight]

Petrol past $4 per litre?Not unthinkable....

My prediction:
The 'Perfect storm' is coming for Singapore.
Rising fuel taxes,Increasing GST,downturn in economy during the Covid, rampant under-employment amongst Singaporeans, and the letting of Foreign talent in to occupy jobs in Singapore,these i predict,will further lead to a 'Perfect Storm' that will be coming to Singapore.
Previous predictions i made came true ,and i fear for Singapore's future.
As a patriot,i believe that fuel taxes should be reduced as a source of government revenue and governmental income/taxation should come from higher end goods and services .
My position is that I advocate that costs on basic items like milk powder, eggs diapers,diesel ,petrol,rice and water ,medical should be exempt from duties and GST taxation, as everything in Singapore is dependent on fuel transportation to access the goods and services needed for Singapore's survival.
So talking abt GST linked to fuel hikes makes sense because at the end of the day, it is the rising cost of living that matters.2 percent rise in GST is per level across many levels ,as many of you can see the real effects around you alrdy. (See pic below )
In as much as WP is an opposition party, i do not agree with WP's introducing of carbon taxation ie rise in fuel taxes especially in these hard times of economic hardship on the People.we should show more humanity.
We should spend our focus on efforts to slow down high immigration rates for excessively paid foreign professionals,grow the economy and hence collect more revenue from the recovering economy instead via increased income taxation for appropriate expenses and higher taxes on luxury spending.
This is my humble opinion

Ps in addition,the russian-ukarinian crisis isnt helping the oil prices along with the russian sanctions.Petrol will likely cross the $4 mark per litre at the rate things are going...With the added GST and fuel hikes.With that,most things will follow suit. I pray for all Singaporeans.

#ReduceGST
#Reducefueltaxes
#BetterJobsforSingaporeans
#DecreaseImmigrationStressors

Make Singapore our home Again.
#PlsShareandLike
#BuildingACaringCommunity

 

[LITTLEREDDOT]

ST Explains: How surging oil and gas prices may affect Singapore consumers​

Since Feb 14, 95-octane petrol has climbed by as much as 45 cents, or 16 per cent. PHOTO: ST FILE

Prisca Ang


MAR 9, 2022

SINGAPORE - Oil and gas prices are going through the roof amid the war in Ukraine, and Singapore is not being spared.
Pricier commodities, including energy resources, can have sweeping effects across the economy, from transport costs to food and utility prices.
Brent, the global benchmark for crude oil, touched a high of US$139 per barrel in Asian trade on Monday (March 7) for the first time since 2008, before paring its gains to around US$130. United States natural gas futures rose to US$5 per million British thermal unit.
Trade and Industry Minister Gan Kim Yong told Parliament on Monday that the conflict will have a significant indirect impact: "One key area we will be significantly impacted by is energy cost, as we import most of our energy needs."
Moody's Analytics senior economist Tim Uy said the crisis will particularly affect countries, like many in Europe, that rely on Russian oil and gas.
The crisis has fanned fears of shortages, given that Russia holds 12 per cent of the world's oil supply and 17 per cent of its natural gas.
Dr Uy added that uncertainty over the conflict will lead to higher oil and natural gas prices worldwide, even if additional supply outside of Russia comes on line.

The Straits Times looks at how the crisis in Ukraine may affect consumers here.

1. Transport and delivery costs​

Motorists are now paying more at the pump amid surging oil prices, with all petrol grades now costing $3 or more a litre.
For example, a litre of 95-octane petrol ranges from $3.03 to $3.23, while 98-octane is $3.72 at Shell and $3.51 elsewhere, noted Consumers Association of Singapore's pump price tracker Fuel Kaki.

Since Feb 14, 95-octane petrol - the most popular grade here - has climbed by as much as 45 cents, or 16 per cent.
Consumers may also feel the pinch from higher delivery and ride-hailing fees if companies decide to pass their drivers' additional costs on to customers.
Ms Selena Ling, OCBC Bank's head of treasury research and strategy, said: "Given that fuel pump prices are already reacting to the uptick in crude oil prices, it is likely that some of the increased costs will be passed on to end-consumers in time to come."
MORE ON THIS TOPIC
All petrol prices in S'pore now start from $3 a litre, with one grade nearing $4
Oil, commodities soar after reports of Russia attack on Ukraine nuclear plant

2. Utility bills​

About 95 per cent of Singapore's electricity is generated using natural gas, which it pipes in from Malaysia and Indonesia and takes in the form of liquefied natural gas from other countries.
The Energy Market Authority has warned that consumers will likely see higher electricity prices when they renew or sign up for new plans. Volatility in the wholesale market has shot up, with the ongoing global energy crunch worsened by supply disruptions resulting from the Russia-Ukraine war.
Potential savings of up to 30 per cent on power bills that were once offered by open electricity market (OEM) retailers are no longer a perk for those renewing or signing up for new price plans, the ST reported on Sunday.
The OEM price comparison website showed that the difference between some retailers' fixed-price plans and national utility SP Group's tariff has shrunk to less than 2 per cent at best.

3. Airfares​

Soaring oil prices and increased insurance costs for airlines will in turn lead to higher ticket prices, industry observers told the ST last week.
National University of Singapore Law School professor Alan Tan, whose specialisations include aviation law, said: "If Russian airspace continues to be closed for a while, even to only some carriers, there could be knock-on effects on ticket prices due to overall decreased competition and increased fuel, insurance and aircraft leasing costs."
Mr Rob Morris, global head of consultancy at aviation advisory firm Ascend by Cirium, added that beyond the aviation sector, higher fuel prices will drive up air freight charges, which could lead to increased costs across entire economies.

4. Food prices​

Consumers could face pricier groceries and meals at restaurants, fast-food outlets and hawker centres if rising utility and transport costs are passed on to them.
Analysts have also warned that developments in Ukraine could result in an increase in the prices of food staples. Ukraine is the world's third-largest exporter of corn and the fourth-largest exporter of wheat, while Russia is the world's top wheat exporter.
Food inflation was already one of the main drivers of higher consumer prices in Singapore in January, rising 2.6 per cent year on year on the back of costlier non-cooked food and prepared meals.
Ms Ling said food has a relatively high share of the consumer price index basket, at 21 per cent.
"Rising imported food costs - whether due to the wheat shortfall from the Black Sea region or global supply chain bottlenecks, or even climate change - may filter through to end-consumers," she noted.

 

[LITTLEREDDOT]

Committee reconvened to address concerns that businesses could use GST hike to raise prices​

Like before, the reconvened committee will guard against profiteering on essential food items. ST PHOTO: LIM YAOHUI
Amanda Lee
Correspondent

Mar 16, 2022

SINGAPORE - A committee has been reconvened to address concerns that businesses could use the Goods and Services Tax (GST) as a cover to raise prices.
The 13-member Committee Against Profiteering (CAP) will look into feedback on unjustified price increases of essential products and services, and focus on daily items commonly consumed or used by Singaporean households, such as eggs and chicken.
Chaired by Minister of State for Trade and Industry Low Yen Ling, the committee held its first meeting on Wednesday (March 16). Its other members include representatives from different industries, grassroots organisations and MPs.
Ms Low said there will be various channels for the public to raise their feedback or report any businesses suspected of using the GST as a pretext for higher prices.
Finance Minister Lawrence Wong had first announced that the committee would be formed during his Budget speech in February, when he set out how Singapore's GST rate will increase from 7 per cent to 9 per cent in two stages - by one percentage point each time on Jan 1, 2023, and Jan 1, 2024.
The committee was first set up in 1994, the year GST was first introduced, and reconvened during previous rounds of GST increases in 2003 and 2007.
Like before, the reconvened committee will guard against profiteering on essential food items, such as eggs, chicken, vegetables, and meals from hawker centres and coffee shops, as well as non-food essentials like household products.

In a statement, the committee said it will work with partner agencies and organisations to investigate feedback, including the Competition and Consumer Commission of Singapore, the People's Association and the Consumers Association of Singapore.
The committee will also engage businesses to find out why they raised prices and evaluate their explanations, to determine if their price hike constitutes profiteering on the GST increase.
It may publicise the names of errant businesses that seek to profiteer on the pretext of the GST hike.
Ms Low said the committee "will not add any regulatory burden on businesses".
"Its role is to strengthen transparency and enable free market competition to function as it should. As we safeguard consumers' interests, we will also continue to support our businesses," she added.
People who want to give feedback on unjustified price increases of essential products and services under the guise of the GST hike can do so via the official CAP website from April 1, 2022.

 

[LITTLEREDDOT]

Gojek to raise start fares, charge 'driver fee' of 50 cents for short trips and 80 cents for longer​

The fee will apply to all GoCar, GoCar Premium and GoCar XL rides, and is expected to remain in place till May 31, 2022. ST PHOTO: KELVIN CHNG

Yeo Shu Hui


MAR 19, 2022

SINGAPORE - Trips on Gojek will cost more from March 31, with the ride-hailing firm raising start fares and charging a 50 cent temporary flat fee on all trips under 10km and 80 cents for longer distances.
The start fare for all GoCar trips will cost 50 cents more, while GoCar Premium and GoCar XL services will be 80 cents more expensive, said Gojek on Saturday (March 19).
It added that the temporary "driver fee" is to support its driver-partners' earnings and help them cope with rising fuel and operating costs.
The fee will apply to all GoCar, GoCar Premium and GoCar XL rides, and is expected to remain in place till May 31.
Taxi group ComfortDelGro, as well as taxi operators Trans-Cab, Prime Taxi, Premier Taxis and Strides Taxi, had earlier announced higher fares starting this month.
The rises impact flag-down fares and metered charges.
Taxi operators had previously said that inflation and fuel prices have been increasing since mid-2020 and ridership remains lower than before the Covid-19 pandemic, all of which affect cabbies.

Russia's invasion of Ukraine has further impacted pump prices here.
Gojek said that the driver fee is an addition to the incentives and measures, such as a reduction in service fees to 10 per cent on all rides, that were announced last year to support driver-partners and help them take home more earnings per trip.
Mr Lien Choong Luen, general manager of Gojek Singapore, said: "Our driver-partners are the backbone of the Gojek platform and our priority is on maintaining their welfare and ensuring that they can build a sustainable livelihood on our platform.
"Rising costs at the pumps directly impact our driver-partners' ability to work and earn, and we've heard first-hand the challenges they're facing.
"The introduction of this fee will help provide much-needed financial support and earnings protection for them."
To help consumers, up to five Gojek trips from 9am to 5pm on weekdays will still be eligible for a 50 per cent shaving off the fares, subject to a maximum discount of $5.
In response to queries from The Straits Times, ride-hailing rival Grab said it will continue to find ways to support its driver- and delivery-partners to mitigate the rise in operational costs.
"Currently, our driver- and delivery-partners have access to fuel rebates, and we have just introduced a three-month commission rebate of 5 per cent for the first 199 completed trips to help our qualifying driver-partners defray some of their costs," said a spokesman.