Oil drops below $93
Tuesday, September 16th, 2008 Tags: crude oil price drop, crude oil pricesPosted in News
Oil prices plunged below $93 on Monday 15 Sept 08, hitting seven-month lows.
Let’s see how fast the petrol companies here drop their prices.
September 16th, 2008 at 1:32 pm
Definitely they will not reduce this week. Greedy cartels as usual.
September 16th, 2008 at 4:08 pm
Hi guys
I am tracking how those petrol companies react to this crude oil price declination.
The last time they reduced by S$ 0.05 per litre was when the crude oil price was around U$ 100/Barrel
pls help me gather the last petrol price movements for the last 6 months in correspondence to Crude Oil price movement, any body has the records?
September 16th, 2008 at 5:13 pm
Oil prices In US when crdue was about US$140 -pump prices were abt 4.5 per gallon
Now crdue was about US$100 -pump prices was abt 3.7 per gallon
prices have fallen abt 30 % in crude and pump prices in US have fallen about 20%.
SG pump prices fallen only abt 10% at most from the high.
September 16th, 2008 at 7:14 pm
crude oil up… increase our petrol 10cents, 20 cents.. crude oil go down decrease 2cents, 5 cents…
increase so fast when decrease is only half the effort… to be frank when the crude oil is high do you think they will buy if they have plenty of spare oil..
even if buy do you think the increase will affect them the next day, the expensive oil might not even reach our shores yet??? But it affect us the next day!
September 17th, 2008 at 11:30 pm
Kiong0985, i have kept track as well. On the 6/8/08, there is a reduction to $1.996 when the crude oil was at USD120. Then, for around 1 mth plus until last week, then they drop another 5 cents. However, btw 6/8/08 to 12/9/08, the crude oil price is hovering in the USD 115 to USD 105 range. Hope it helps.
September 30th, 2008 at 6:11 pm
I am surprised that until today nothing has moved despite adrop below $95 per barrel. Previously, the price of petrol on average was $1.68-$1.88 when at this barrel price.
October 4th, 2008 at 11:50 pm
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October 7th, 2008 at 3:19 pm
The price of Petrol has dropped by 5 cents!
October 7th, 2008 at 3:51 pm
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October 8th, 2008 at 3:17 pm
Oil companies should initiate price cut again as oil price falls again to US$88 to alleviate the rising cost in transportation hitting the pockets of all.