Pump prices drop again!
Friday, December 5th, 2008 Tags: fuel price drop, petrol price decreasePosted in News
Would you be travelling alot more this weekend as Hari Raya Haji approaches? Here’s some good news! As of 1240 hrs on 5 Dec 2008, we can confirm that all 4 brands have REDUCED petrol & diesel pump prices for all grades in the following order:
Shell - 1000hrs
Caltex - 1100hrs
SPC - 1115hrs
ExxonMobil - 1200hrs
Significant changes in prices are reflected in detail and can viewed in the tables below.
|
SHELL
|
||
|
Type
|
Old price
|
New price
|
|
Formula 92 (92UL)
|
S$ 1.563
|
S$ 1.523
|
|
Formula 95 (95UL)
|
S$ 1.596
|
S$ 1.546
|
|
Formula 98 (98UL)
|
S$ 1.670
|
S$ 1.620
|
|
V-Power
|
S$ 1.799
|
S$ 1.759
|
|
Shell Diesel (AGO)
|
S$ 1.333
|
S$ 1.283
|
|
EXXONMOBIL
|
|||
|
Type
|
Old price
|
New price
|
|
|
Synergy 2000
|
S$ 1.563
|
S$ 1.523
|
|
|
Synergy 5000
|
S$ 1.596
|
S$ 1.546
|
|
|
Synergy 8000
|
S$ 1.670
|
S$ 1.620
|
|
|
Synergy Diesel
|
S$ 1.333
|
S$ 1.283
|
|
|
SPC
|
||
|
Type
|
Old price
|
New price
|
|
ULG 92
|
S$ 1.563
|
S$ 1.523
|
|
ULG 95
|
S$ 1.596
|
S$ 1.546
|
|
ULG 98
|
S$ 1.670
|
S$ 1.620
|
|
Diesel
|
S$ 1.333
|
S$ 1.283
|
|
CALTEX
|
||
|
Type
|
Old price
|
New price
|
|
Silver with Techron 95
|
S$ 1.596
|
S$ 1.546
|
|
Gold with Techron 98
|
S$ 1.670
|
S$ 1.620
|
|
Platinum with Techron
|
S$ 1.796
|
S$ 1.756
|
|
Power Diesel
|
S$ 1.333
|
S$ 1.283
|
December 5th, 2008 at 12:39 pm
Peng Shan…just top up full tank nia
Who say they only reduce on Tue? kekeke….lol
December 5th, 2008 at 1:50 pm
More to come next week….
December 5th, 2008 at 2:00 pm
Well, now one barrel is US$42 only, our prices are still high.
December 5th, 2008 at 2:01 pm
Source:
http://www.bloomberg.com/apps/news?pid=20602013&sid=a_mf8IRqnIRE&refer=commodity_futures
Oil Set for Biggest Weekly Fall Since March 2003 on Demand Drop
By Christian Schmollinger
Dec. 5 (Bloomberg) — Crude oil is set for its biggest weekly decline since March 2003, trading near an almost four-year low, as the economic contraction and job losses in the U.S. cause a slump in fuel demand.
Oil is set for a 19 percent drop this week after the U.S. was declared to be in a recession. Energy, wheat and copper led a plunge in commodities yesterday as the Standard & Poor’s GSCI raw materials index fell to the lowest since February 2005. A report today will probably show U.S. November payrolls dropped the most since the 2001 terrorist attacks.
“The connection is pretty clear — fewer people in jobs is a clear sign of a weakening economy,” said Toby Hassall, a research analyst at Commodity Warrants Australia in Sydney. “As unemployment rises, GDP falls and oil demand falls. It’s not likely to show much hope for the economy.”
Crude oil for January delivery was at $44.02 a barrel, up 35 cents, at 1:03 p.m. Singapore time on the New York Mercantile Exchange. Yesterday, futures tumbled $3.12, or 6.7 percent, to $43.67 a barrel, the lowest settlement price since Jan. 5, 2005.
Oil prices have fallen 70 percent since reaching a record $147.27 on July 11. Crude’s weekly drop is the largest since a 24 percent decline during the week ending March 21, 2003.
The U.S. entered a recession in December 2007, the National Bureau of Economic Research, a private, non-profit panel of economists that dates American business cycles, said Dec. 1. U.S. equity markets plunged yesterday as oil stocks dropped on forecasts of $25 a-barrel-crude from analysts at Merrill Lynch.
December 5th, 2008 at 2:17 pm
Luckily I always pump whenever it drops to 3/4 tank full…
Hopefully don drop too much, bad for economy also.
December 5th, 2008 at 3:36 pm
TIP:
When u expect the prices of petrol to drop, u should fill up as little as possible each time. eg wait till the tank is empty then fill $20 .
When u expect the prices of petrol to rise, keep you must fill your tank with as much petrol as possible all the time.
December 5th, 2008 at 9:11 pm
Once the price drop to a certain level, all the on-site discounts would be removed. So enjoy while it last.
December 5th, 2008 at 9:23 pm
Shell V-Power is at $1.759 and NOT $1.749…
So, only 4 cents drop for V-Power….
December 5th, 2008 at 11:15 pm
Alamak. For heaven’s sake lah. Oil prices have dropped by 70% from its all time high. No prizes for guessing. Petrol prices in Sg has dropped by a mere 33 percent. I am not saying that petrol should drop by 70% too, but 32 percent is just too low. Petrol prices should have dropped by at least 45% to 50% from its peak by now. This would be more equitable.
Does anybody remember, what was the petrol price the last time oil was about US$45 per barrel? I am very sure it was much lower then the petrol prices now.
Perhaps, someone can take the lead and set up oil prices vs petrol price table comparison. I am sure this would benefit us and keep the oil cartels in check.
December 6th, 2008 at 1:40 am
Usually I just pump 25 l, then wait till the next prices drop which is usually almost empty tank then I pump again. Not sure having a lighter (less fuel) car helps. But pumping a little more often at this time when the pump prices are dropping surely helps.
December 6th, 2008 at 5:29 am
must drop again today… Crude oil price at it lowest US$39.50….
December 6th, 2008 at 5:30 am
Lastest update..Crude oil price at it lowest US$39.50….
December 6th, 2008 at 10:47 am
92 grade drop 4cents; 95 drop 5 cents. I sometimes pump 92 to save cost, but with this round of drop, it makes sense to pump 95 as the difference narrows. 95 gives me slightly more mileage and power.
December 6th, 2008 at 10:56 am
On a separate note, S’pore Power is not any better. they peg the electricity tariff for last quarter based on oil price of US$155 per barrel. we all know it resulted in the increase of electricity tariff for last quarters by almost 22 percent. why US$155 when all time hight per barrel was US$147? Now the best thing happened. With the oil price slumping and expected to hit even US$25 per barrel (today ST), they had peg the tariff based on oil price of US55. We consumers never win.
December 6th, 2008 at 12:33 pm
Current BRENT CRUDE FUTR (USD/bbl.) USD39.740 -2.540 -6.01 12/05
Source:
http://www.bloomberg.com/apps/news?pid=20602013&sid=aJnm1lcZLnmE&refer=commodity_futures
Crude Oil Caps Biggest Weekly Drop Since 1991 on Lower Demand
By Mark Shenk
Dec. 5 (Bloomberg) — Crude oil fell for a sixth day, capping the biggest weekly drop since the Persian Gulf War in 1991, on concern demand will decline after a report showed U.S. employers cut jobs in November at the fastest pace since 1974.
Oil is down 25 percent since Nov. 28 as the recession deepened in the U.S., Europe and Japan. Payrolls fell by 533,000 last month, the Labor Department said today. The International Energy Agency, U.S. Energy Department and OPEC lowered demand forecasts over the past month because of the contraction.
“It’s all about the economy,” said Christopher Edmonds, the managing principal of FIG Partners Energy Research & Capital Group in Atlanta. “There’s not much that can be done right now to keep prices from falling off a cliff.”
Crude oil for January delivery fell $2.86, or 6.5 percent, to $40.81 a barrel at 2:51 p.m. on the New York Mercantile Exchange, the lowest settlement since Dec. 10, 2004. Prices have dropped 72 percent since reaching a record $147.27 on July 11.
“After the jobless number, any bulls that were left in the market will become extinct,” said Nauman Barakat, senior vice president of global energy futures at Macquarie Futures USA Inc. in New York. “There are no redeeming features in these numbers.”
U.S. payrolls were forecast to decline by 335,000, according to the median estimate in a Bloomberg News survey. November’s drop exceeded all 73 forecasts by respondents.
December 6th, 2008 at 12:50 pm
when do you guys think the discounts will be gone?
at what price did they start to introduce the site discounts last time???
December 8th, 2008 at 5:13 pm
if u can affort to drive a car.. dnt think abt petrol price.. if u think abt petrol price, tat mean u cannot affort to drive a car. so dnt drive n go take bus. every mth save u a lot of money.
December 8th, 2008 at 10:35 pm
‘why worry’,
From what u said, you are either super rich or you take bus to work everyday. Not forgetting that you could be big boss of some petrol company.
December 9th, 2008 at 12:51 am
damn i pumped esso when shell is the cheapest! -_-”
December 10th, 2008 at 1:17 am
shell 92 went up 1cent?
December 10th, 2008 at 11:44 am
The price of Shell 92 as $ 1.513 was inaccurate. According to Shell Singapore’s website, the price is $ 1.523. The price that you see at PetrolWatch was only corrected late yesteday…
December 10th, 2008 at 2:18 pm
Yeap, it was an error on our side. Thanks for pointing it out!
December 11th, 2008 at 11:40 pm
STILL EXPENSIVE!!
December 12th, 2008 at 2:46 am
My tank is running low. Its time to drop the prices again. Come on!!!!!
December 12th, 2008 at 10:48 am
Agree still expensive. See http://www.eia.doe.gov/oil_gas/petroleum/data_publications/wrgp/mogas_home_page.html. The are in US$ and 1 US gallon is about 3.8 l. On average, US retail price (incl taxes) is only about S$1.10+
We are easily 20 - 30% more exopensive than the US.
December 12th, 2008 at 2:11 pm
Haha, the price of petrol will predicted to reduce near christmas ba…
December 14th, 2008 at 7:15 pm
To: Star_ranger99,
I’m a driver which dnt really care abt petrol price. I’m an employee of a big company but not in the high post which staying in Condo/Private Properties. Not earning that much but enough for me to feed my car n family. For this car (which is my fault to own it), cause whether you want to drive or take bus is your own decision, nobody force you. So if I want to drive, petrol is the problem I have to solve. Hope didnt offend too many people here. But this is the fact… The True Nothing But The True! Dont keep thinking petrol price when drop. Think whether you can affort it anot…
December 14th, 2008 at 7:45 pm
To: why worry
Its not about whether you can afford it or not, Its about whether the petrol companies are over charging us.
Have you ever wondered why when the school bus association tell their memebers to increase fare by $15 or whatever, CASE or the competition commission (can’t recall which one) will kpkb and when oil companies all changes their prices within 3 hour (maybe less) of each other, neither CASE nor the competition comission says anything.
You go to AUstralia or the USA and you find prices are different in different part of the same town. Don’t have to go to another state to find them.
December 15th, 2008 at 12:36 am
To: CCC
We are a country without crude oil. We must face the fact that we actually have to pay more than others (country). And I wish to know, how sure U are… the petrol company over charge us?? Crude price drop doesn’t mean petrol price will drop back to last time. Everybody should know, living in Sin, once price went up will never back to normal when crude price drop to the price now. Face it everyone, we staying in Sin. If u cannot stand it, leave the country. Some country may charging low petrol price, but income tax kills U. As what I know, Aust charge higher petrol price than Sin. Their income tax also worst than us. I’m also waiting to see our utilities bill… What’s the Govt going to charge us for electricity bill. If Jan they don’t drop their price more than 22%, then this is the thing we must complain.
December 15th, 2008 at 10:10 am
FYI, we export refined oil (petrol) to Australia and New Zealand, and other countries as well in the region:
http://www.aip.com.au/pricing/facts/Facts_about_Petrol_Prices_and_the_Australian_Fuel_Market.htm
25% of Aussie’s petrol and 15% of New Zealand’s petrol comes from Singapore.
We are not a crude oil country, but we are the leading (and largest) refinery in the region.
December 15th, 2008 at 11:21 am
To: why worry
The news have already reported that electricity for Jan to Mar 09 will drop by more than 25%.
December 15th, 2008 at 12:16 pm
Why nobody complain only drop more than 25% of electricity bill… Should drop more than 40% at least, correct..? Since crude price so low… Why nobody complain the food raised is because of petrol then now petrol price drop, food price should also be dropping? If everyone think petrol company overcharge us, go for CNG. But anyway, CNG also overcharging us.
To: dallaschang
Then do you know Refinery making a loss from petrol?? I don’t think you know. What they earn from is Lube & Chemical. If not, they just refine petrol is more than enough to suck all our money.
Actually no point saying all this. If you want a ‘car’, face it! You have to pay more. Or else don’t stay in Sin.
To: Guest
Thanks for your information.
December 15th, 2008 at 12:41 pm
To: why worry,
You have been repeating this statement about ‘ if you want a car, face the music of having to settle for the prices of petrol that the whosoever set it for us and should not complain even if it is too high if we link it to the cruel oil price now’. I would like to ask, if the prices of all our food is 100 times the prices now, most of us will not be able to afford it, so we should all find a way to end our lifes because we cannot afford to live? You may do just so but I and most Bro here would want an explaination from the top before we do anything silly.
I think indeed whether we can afford a car or not is our problem, but we deserve an explaination for having such an unreasonable fuel prices.
Yes, you work in a BIG company and could be earning decent salary so you don’t feel it or don’t care about $1.5 or $2.5/l. I am sure there are many who could bearly afford a car and they need their car for work, etc sales or housing agents. Spare a thought for others!!
December 15th, 2008 at 3:12 pm
To: why worry,
If you don’t care about the price, then don’t come here. This is a price board for people who is MORE interested in the price.
Since you don’t care, then be it the price increase or reduce, you don’t need to know. Also if you can afford or cannot afford, we don’t wish to know also. Keep your comment to yourself.
To Star_ranger99:
This people only live in their own world. They think they can afford, then means EVERYONE can afford too. But in the first place, he shouldn’t even be here to check the price since he DON’T even care about the price. Why bother to see right ?
December 15th, 2008 at 5:51 pm
IN jul when Oil prices were US$147 per barrel, the petrol prices in Australia was A$1.55 and in Singapore it was about S$2. Back then, A$1.55 was about S$2, so the petrol prices in SIN and Australia were the same
Today, Australians are paying 96 Australian cents and Singaporeans are paying S$1.45 for petrol. 96 Australian cents ia about 95 Singapore cents. So we are paying over 50% more in petrol than Australians, who have seen their currency collapse.
We are so getting ripped off and the government merrily watches on as the fuel companies reduce their prices a few measly cents at a time.
December 15th, 2008 at 10:01 pm
To: why worry Says:
December 15th, 2008 at 12:36 am
I am a Singaporean. If I do not like the prices the petrol companies are charging and lots of other things about the country, that does not mean I have to leave the country. This is MY country, but I do not know if it yours as well.
To tell me to leave the country just because I do not like some things here is uncalled for. Come to think of it, to tell a foreigner to leave the country because he is unhappy with the price of petrol here is uncalled for as well.
Relax man, its just the price of petrol. Or are you working for one of these petrol companies?????
December 15th, 2008 at 10:17 pm
To: Kelv
I came here is because how you guys share information. Yah, maybe I living in my own world just because I can affort to pay for the petrol price. Nope, I also get happy when price drop. Why don’t you go protest, bring all the people here which is unhappy go protest or u can don’t even pump petrol. I’m here just telling the fact, don’t always keep blaming petrol company. This is what u said ‘They think they can afford, then means EVERYONE can afford too.’ My same old words coming again. ‘Cannot affort don’t drive.’
To Star_ranger99
What u said is correct… ‘I think indeed whether we can afford a car or not is our problem.’ Then the petrol company overcharge us also their problem. Am I correct? U can simply don’t pump petrol. We r in Sin, so we have to face it.
To Doc
Aust petrol may be cheaper, but u forget about their taxes… All this is give and take. I think if there are protestors here and there to stress govt or petrol company, maybe u can get answer from those company.
p/s: Don’t get angry, we are here to share, not to argue.
December 15th, 2008 at 10:43 pm
To: why worry Says:
December 15th, 2008 at 10:17 pm
Can you please explain why higher taxes (I guess you mean income tax as u did not specify what tax) has to do with lower petrol prices in Australia?
Are you suggesting that perhaps the Aussie govt subsidise petrol prices from the high income tax they collect??? I am sure you are aware that incomes tax goes to the govt and profit from petrol goes to the oil companies, i.e. private companies.
“We r in Sin, so we have to face it.” — What a fatalistic attitude!
Once again I say it. It’s not about affordability. It’s about not being overcharged = fairness. That’s why we have CASE and the Competition Commission of Singapore and other countries have a Fair Trading Act.
December 16th, 2008 at 3:11 am
Why worry,
You remind me of someone I know when I was in Uni. His famous quote was ‘All POOR people deserve to DIE’. I am glad that you are merely working for a BIG company as a small fry and not one of our ministers. Thank god!!!!!
December 16th, 2008 at 3:23 pm
To CCC
Please read properly my sentence… ‘If you cannot stand, then ;eave the country.’ Does this sentence telling you I ask you to leave??? If you can stand it, stay here… I didn’t ask you to leave!!! I can stand it, that why I’m still here.
To Star_ranger99
If I’m really a minister. I won’t let people suffer in Sin. Maybe driving car will suffer worst then now. I will take care those poorer people out there which no time to think when petrol price drop. Is thinking when to have my next meal… So what I can affort it anot… Of course still got people out there suffering even without a car. Got a car is luxury, not a must. So be it even the petrol company overcharging us…
Maybe I’m the Uni guy you know… Haha!
Does CASE help you guys here to fight for lower petrol price???
GOD BLESS!!! Thanks, I have learned a lesson here… I think all here are angry more then discussion.
December 16th, 2008 at 5:18 pm
To why worry,
Not really angry, Just cannot agree with your stand and how you put your points across.
I only want to tell you that dropping a few cents / litre of petrol really does not much different to me as well as most of us here who can AFFORD a car or even two. However I still feel happy that it is at least closer to what it SHOULD be.
If you have said that sentance before then I am sure it must be you. hahaha.
Good luck!!!!!
December 16th, 2008 at 9:39 pm
To: why worry Says:
December 16th, 2008 at 3:23 pm
I cannot stand it and I am NOT leaving MY country. Why should I? And what makes u think that everyone who cannot stand it can or want to leave the country?
You can stand it, really? As u said “We r in Sin, so we have to face it.”. Meaning you have no choice but to accept it.
December 17th, 2008 at 9:08 am
heard that JB petrol drop to 1.30RM
December 17th, 2008 at 10:49 am
That actually translates about $0.55 per litre.
Can foresee a lot of people going to JB and there are going to be huge jams on the causeway.
December 18th, 2008 at 9:54 am
The crude oil is now at a very very low price. It would really really surprise me if SG cartel drop JUST a mere 5cent again.
December 19th, 2008 at 6:54 am
See http://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches-121808.aspx
Oil prices at 36 USD. Petrol in USA has dropped by 60% from peak. At the peak we were charged 2.26 / l for UL95. Now we are paying 1.546.
If the petrol prices had fallen by as much and considering that the US$ is 10% stronger than S$ now petrol (minus the tax part) should be 50% cheaper. We should be paying a $1.35 instead of 1.546. The 45 cents / l tax on petrol does not change.
We are overcharged!
December 19th, 2008 at 11:05 am
Completely agree with you. It is common knowledge that they are just ripping consumers for their big bonus! When times are bad they make even bigger profit. This reminds us of the greed of some of these big corporate organisations that have put us all in this financial tsunami. Do they deserve such benefits or is this morally correct?
November 29th, 2011 at 3:42 pm
Handmade Costume Jewelry…
[...]PetrolWatch Singapore News » Blog Archive » Pump prices drop again![...]…
March 14th, 2012 at 4:55 pm
motor cycle reviews…
[...]PetrolWatch Singapore News » Blog Archive » Pump prices drop again![...]…