What! it went up again!?!?!?!

[Getz10]

The thing tat anger me is even wif weaken US dollar against SG or any reduce in oil price, the fuel price locally never seems to follow :angry:

It's just a one-way express lane upwards tat's all :thumbsd: Wif all oil companies setting record profile here two years running :bigeyes:

 

[Nisa]

Caltex ups pump prices, others set to follow

The increase - three cents a litre for petrol and five cents for diesel - was the third since last month and the ninth consecutive climb since July last year. -ST
Christopher Tan

Tue, Apr 22, 2008
AsiaOne

CALTEX petrol stations raised their pump prices on Tuesday, a move seen as a precursor to hikes at other fuel outlets.

The increase - three cents a litre for petrol and five cents for diesel - was the third since last month and the ninth consecutive climb since July last year.

It brings a litre of petrol to as high as $2.316 and diesel to $1.663 a litre before discounts. Caltex is operated by United States oil giant Chevron. Other oil companies with petrol stations here - namely Shell, ExxonMobil and Singapore Petroleum Company - are expected to follow Chevron's move in the next few days.

If they do, a three-cent hike in petrol prices will cost Singapore drivers a total of $27.5 million a year.

Petrol prices have risen by more than 55 cents a litre since the beginning of last year. Drivers here have seen their fuel bill inflate by more than $500 million in just over a year - or an average of just under $1,000 per car owner.

The pump adjustment came swiftly on the back of record crude oil prices, which crossed US$117 (S$157) per barrel on Monday, before dipping to around US$115 on Tuesday. It was averaging US$50 a barrel in January last year.

Monday's rise in crude prices has been blamed on fears of supply disruptions. A Japanese oil tanker was reportedly attacked off Yemen and pipelines in Nigeria have been bombed repeatedly by a rebel group there. Observers foresee oil prices breaching US$120 in the next few weeks.

Singapore residents are not the only ones affected. In the US, the world's biggest fuel consumer, petrol is now averaging 77 US cents a litre and diesel 92 US cents a litre. Both are record rates.

In Britain, the average price of a litre of petrol now stands at 1.08 euro (S$2.80). Diesel set another record of 1.18 euro a litre.


From http://www.asiaone.com/print/News/AsiaOne+News/Singapore/Story/A1Story20080422-61274.html

 

[di0nysus]

:hung::hung::hung:

 

[anadivine]

Oil Prices rise so naturally they've got to increase..


its almost $119 per barrel now..


Buying a car is expensive in Singapore but maintaining it is slighty cheaper.

Hong Kong cars are cheap. But petrol and parking will kill u


Chevron is currently looking for alternatives in energy. Geo-thermal. Tapping energy from inside the Earth. Hope they succeed.

 

[denniskee]

bus fare, mrt, electrical bill..... up up and away.....beyond the reach of the commoners.

 

[lsisaxon]

Dun drive. Simple.

Taxis are all around the road these days.

But they are too freaking expensive these days!!

Maybe companies should really start staggering the working hours so there won't be a peak period. ;p Or introduce work from home. With the IT infrastructure, I don't see why that is not possible for non-engineering jobs.

 

[night86mare]

But they are too freaking expensive these days!!

Maybe companies should really start staggering the working hours so there won't be a peak period. ;p Or introduce work from home. With the IT infrastructure, I don't see why that is not possible for non-engineering jobs.

if you do calculations har, even if take taxi every alternative day, other days take mrt/bus

confirm way cheaper than even the most fuel-efficient car in the universe :dunno: - at least if you factor in all costs

 

[ortega]

just fyi

i pump full tank this morning at esso

the price had not gone up yet

 

[anadivine]

discovery channel showcased a car that runs on AIR.

Compressed air.. hehe.. Only downside is that is uses electricity to compress the air in the vehicle.. so they're currently finding a way to make an alternator in the car so it can charge its own air and run forever!

:sweatsm:

 

[creampuff]

Seriously, the authorities should have all taxi fleets to go green, either hybrid or CNG.
They should also re-look the incentives for motorists to go green and change the tax structure for hybrid cars. As it stands, most people won't drive a hybrid because when you do up your calculations, you're paying a larger amount of money upfront for the car. So for most people, they would rather buy a cheaper conventional petrol car even though they will be paying far more in fuel simply because they don't have/don't wish to pay the larger amount of money upfront. Very silly but I guess the govt's desire for more revenue outweighs longer term green considerations.

 

[anadivine]

Seriously, the authorities should have all taxi fleets to go green, either hybrid or CNG.
They should also re-look the incentives for motorists to go green and change the tax structure for hybrid cars. As it stands, most people won't drive a hybrid because when you do up your calculations, you're paying a larger amount of money upfront for the car. So for most people, they would rather buy a cheaper conventional petrol car even though they will be paying far more in fuel simply because they don't have/don't wish to pay the larger amount of money upfront. Very silly but I guess the govt's desire for more revenue outweighs longer term green considerations.

CNG cars have to refuel alot.. smalll tank.. and the only refuelling stations are located to the far west..

 

[lsisaxon]

if you do calculations har, even if take taxi every alternative day, other days take mrt/bus

confirm way cheaper than even the most fuel-efficient car in the universe :dunno: - at least if you factor in all costs

Hmm.. yeah.. that is if you only take every alternate day and one way only. I used to spend $600 a month on taxi before the taxi fare revision, so I know..

 

[night86mare]

Hmm.. yeah.. that is if you only take every alternate day and one way only. I used to spend $600 a month on taxi before the taxi fare revision, so I know..

well yeah, but we don't really have to take the taxi/car all the time

there are times when in fact, mrt can be faster than car because underground tunnels bypass busy roads

 

[lsisaxon]

well yeah, but we don't really have to take the taxi/car all the time

there are times when in fact, mrt can be faster than car because underground tunnels bypass busy roads

Sometimes it's near impossible to board the train at certain stations during peak hour.. Don't know why waiting time goes up with the fare.. :dunno: The taxi driver kept telling me getting a car was cheaper for my kind of destination.

 

[yamapi]

Oil Prices rise so naturally they've got to increase..


its almost $119 per barrel now..


Buying a car is expensive in Singapore but maintaining it is slighty cheaper.

Hong Kong cars are cheap. But petrol and parking will kill u


Chevron is currently looking for alternatives in energy. Geo-thermal. Tapping energy from inside the Earth. Hope they succeed.

And you people believe the myth that clean alternatives will be alot cheaper than your fossil fuel?
wake up,these energy giants are going to cook up with some story justifying their high charges.

 

[Prismatic]

I just read that the OPEC countries have declined to increase their oil production for this year too. Sorts of me wonder, could it be that they know that their oil reserves are dwindling and keeping the prices so they can make the most $$$ before the bombshell break.
That's quite a scary thought...

 

[paradigm]

I just read that the OPEC countries have declined to increase their oil production for this year too. Sorts of me wonder, could it be that they know that their oil reserves are dwindling and keeping the prices so they can make the most $$$ before the bombshell break.
That's quite a scary thought...

think tt iirc, they want to maintain the current prodn or even decrease it ... then the demand is crazy like hell and the supply decreases (or cannot match the demand), the natural law of economics says that the price will go up ... ie they get to maintain that price or even push it up further ... so everyone will pay more and more for the same drop of oil.

so the OPEC countries will continue to earn more and more, create more Temasek-like funds and buy up the whole world, maybe?

 

[thengz]

I just read that the OPEC countries have declined to increase their oil production for this year too. Sorts of me wonder, could it be that they know that their oil reserves are dwindling and keeping the prices so they can make the most $$$ before the bombshell break.
That's quite a scary thought...

In other words, they are learning the American way! Use other people's oil first, and hog your own oil.

 

[paradigm]

Some Asian govts (china, indon, m'sia) subsidize petrol or stop price increase via admin controls. How about our govt? They happily make 3x more if they can.

I think as a concern citizen, they should understand the pain people are feeling. The very least they should do is said I will take my $0.20 share and no more. Scrap the %-age tax rate to an absolute one. Their tax revenue on tax on petrol would remain the same. And they did not subsidise us motorist, right?


Are we not tax on petrol? This % formula multiplies the price increase.

For example, if tax is 20% on a $1 item, price becomes $1.20 and govt makes $0.20. If item price increased to $3, price becomes $3.60 and govt makes $0.60, a 3x price increase.

Some Asian govts (china, indon, m'sia) subsidize petrol or stop price increase via admin controls. How about our govt? They happily make 3x more if they can.

I think as a concern citizen, they should understand the pain people are feeling. The very least they should do is said I will take my $0.20 share and no more. Scrap the %-age tax rate to an absolute one. Their tax revenue on tax on petrol would remain the same. And they did not subsidise us motorist, right? This should be a fair policy since it is not welfare at all. In high inflation times like this, govt should put in efforts to put a lid on prices and not go ERP, ERP, ERP, Erapi, rabi, rapi, rapi (FROG-LIKE sounds; after a while, people can sick of hearing the word, ERP).

Putting a lid on prices dun solve the problem. It only gives a "false impression" of the "real cost" of usage.

If M'sia and I'sia does not subsidise petrol, what would happen? Assuming that the public wun overthrow the govt first:
1) Most people would give up their cars to use public transport -> freer roads, less jams
2) Public transport services enjoy higher utilisation of their services, return on investment greater, economy of scale achieved -> lower charges, upgrading to offer better services
3) World-wide dd on petrol decreases -> lower petrol prices

Ultimately, Singapore is not a welfare state.

 

[anadivine]

And you people believe the myth that clean alternatives will be alot cheaper than your fossil fuel?
wake up,these energy giants are going to cook up with some story justifying their high charges.

at least there are alternatives, instead of sittin there whining..