Singapore cuts fuel prices
Petrol companies in Singapore have lowered their pump prices by four cents a litre for petrol to reflect current market conditions.
Singapore Petroleum Company Limited (SPC) announced today the pump prices for its motor gasoline across all three grades at all its service stations had been reduced by four cents per litre from 3 p.m. today.
Earlier, other petrol companies, Shell, Exxon-Mobile and Caltex started to reduce their pump prices one after another from this morning.
The new pump prices without discounts are $2.32 per litre for the 98-octane grade petrol, $2.246 per litre for the 95-octane unleaded petrol and $2.213 per litre for the 92-octane unleaded petrol.
The pump price for diesel which is currently at $2.033 per litre however is not affected by the changes.
Last Saturday, the four petrol companies had just increased their pump prices for both petrol and diesel by five cents a litre.
It was reported that the impact of a global economic slowdown on demand for oil has caused prices to fall by more than US$5 to US$136 per barrel yesterday.
the price is up again after that
but at least their government DID reduce the price according to current situation