Pump prices increase by five cents!!!


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melvin

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Jun 4, 2005
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By Vimita Mohandas, Channel NewsAsia | Posted: 28 November 2007 2148 hrs

All four oil companies - Shell, Caltex, ExxonMobil and Singapore Petroleum Company (SPC) - have increased pump prices for petrol and diesel by five cents.

Shell was the first to raise pump prices at 8am on Wednesday, followed by Caltex at 10am and then ExxonMobil and SPC at 4pm.

In the past 11 months, the price of petrol has shot up nine times and twice just in this month alone.

The price for 98-octane petrol, used mostly in luxury cars, was relatively stable from January to March, at S$1.637 per litre.

But from April, it jumped thrice to reach S$1.84 in July and increased to S$2.03 in early November. It now costs S$2.08 a litre.

The oil companies said they increased pump prices to reflect current market conditions caused by higher crude oil prices.

Various reasons may cause a hike in pump prices such as local market conditions, rising cost of crude oil, forces of supply and demand, competition and government regulation.

The price of crude oil has steadied around US$94 a barrel on Wednesday after hitting record high levels last week.

New York's benchmark contract had climbed close to the historic level of US$100 last week, reaching a peak of US$99.29 on concerns over tight supplies. - CNA/vm
 

viewwing

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Nov 6, 2006
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#2
prob by next year we'll see the per barrel price raise to US$120... time to look into solar cars liao...
 

ceecookie

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May 22, 2007
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#5
How much is it over the Causeway?
 

Sjourn

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Aug 9, 2004
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#6
not only that, our neigbours are raising the entry fee from jan 1st next year...

If SG motorist boycott petrol stations here, do u think they will lower the prices? Sick and tired of the cost of living rising faster than the economy..;(
 

bartman

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Aug 17, 2004
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#9
If SG motorist boycott petrol stations here, do u think they will lower the prices?

Unlikely......your car is at the mercy of the petrol stations. Irregardless, your car still need to be fed. Your only choice is to either stop using the car for awhile till oil prices comes down or sell it away.
 

drakon09

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Aug 12, 2005
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#10
Maybe horses will come back in fashion...
 

jsbn

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Jul 24, 2002
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#12
Petrol Pump Price Prediction for June 2008

Shell 95: $2.20
Shell 98: $2.50
VPower: $2.80

Ditch the private transport if its not a necessity. Taxis and Public Transports to go.
Cost of living is going up, save every damn cent.
 

Big Kahuna

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Dec 15, 2004
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#13
Petrol Pump Price Prediction for June 2008

Shell 95: $2.20
Shell 98: $2.50
VPower: $2.80

Ditch the private transport if its not a necessity. Taxis and Public Transports to go.
Cost of living is going up, save every damn cent.
Looking at this, the $7500 price tag on a D3 is like a bargain now :lovegrin:
 

rickygck

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Sep 20, 2004
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#14
Heng luckily i sold away my car many years back. But it still affect me cause the public transportation cost is quite high too. Still feeling the pinch anyway. :(
 

garou12

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May 15, 2007
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#16
it's already been proven that our cars can use used cooking oil for fuel. start thinking about that :)
 

Stratix

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Oct 13, 2005
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#17
dont know if you guys see this trend, but seems like the papers are reporting about *SOMETHING* increasing in price.

our future really looks bleak, but our leaders are still saying about more good years ahead...
 

jsbn

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Jul 24, 2002
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#19
Heng luckily i sold away my car many years back. But it still affect me cause the public transportation cost is quite high too. Still feeling the pinch anyway. :(
Public transport? High?

If u're taking buses all the way, compared to an average cost of private transport abt $1.2K/mth, u can save upto 90%.
If u're taking taxis all the way, compared to an average cost of private transport abt $1.2K/mth, u can save upto 10 to 20%.
 

kitkat

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Mar 5, 2005
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#20
Heng luckily i sold away my car many years back. But it still affect me cause the public transportation cost is quite high too. Still feeling the pinch anyway. :(
Public transport is still much cheaper than car transport.

The fuel increasing is hurting my pocket too (25% increase). It will probably affect us significantly alot next yr.
 

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