Pump prices near $2

[MarrickG]

PUMP prices are inching towards $2 territory, a level that is likely to reignite interest in fuel-efficient cars and cheaper grades of fuel.

On Tuesday, Caltex and ExxonMobil led the pack when they jacked up prices by five cents a litre.

The move, the latest in a series of unremitting increases that began in the second half of last year, brought 98-octane petrol to $1.94 a litre. The two companies' 95- and 92-octane grades of petrol are now $1.857 and $1.797 a litre respectively. Diesel is at $1.323. All rates are before discounts. The other two fuel companies are expected to follow suit soon.

Petrol last touched the $2 level briefly in August last year, but eased soon after.

But with crude oil prices now around 10 per cent higher than they were in the middle of last year, analysts expect pump prices to remain firm this year.

Crude oil for February delivery was nearly US$84 a barrel on the New York Mercantile Exchange on Monday - the highest since October 2008, when global financial institutions began unravelling.

 

[downgrader]

people should learn not to be so attached to cars and meaningless materialistic things

walk more, it is healthy

forget about prestige, you can't eat it, you can't take it with you when you die

 

[halsey02]

It means that Pass The Cost ( PTC) will recommend a 'small' increase in transport..that is 5cts to the power of 10 x 5 times is a 'small' increase... ha ha ha..if you travel that much...in a day....

 

[BlueCat]

oh no,another round of increases in public transport coming soon.

 

[halsey02]

more GST Income to help the poor....thank you, for pumping!!

 

[johnny333]

oh no,another round of increases in public transport coming soon.

Usually they wait for after the elections before increasing prices.

If they are increasing prices now, they'll probably do so again after the elections. Familee must really need the $$$$

 

[Watchman]

What elections ? Singaporeans are not qualified to even vote
quote by someone in the ruling party

 

[kiwibird7]

Its all due to pure GREED and manipulation by the traders and oil refineries of big companies to maximise their profits.

I believe there is still plenty of oil reserves for everyone in the foreseable future, otherwise all the armies in the world would be quickly looking for vehicles/ships/planes that don't operate on fossil fuels to quickly replace their oil guzzlers like main battle tanks, IFVs etc.