Yes, petrol prices have increased for the first time in the last 6 months, after dropping continuously every other week due to weakening prices of crude oil. I never quite get the complex translation of price of crude oil to that of petrol prices, so all I know is that a great jump in crude oil downwards may not necessarily translate to a great jump in petrol prices. Well, I just hope that the converse is true as well.

What I am worried about is weather this translates to The Return of The Fuel Surcharge. I was actually quite glad that the fuel surcharge disappeared eventually. Well, I guess that since they made a promise to get rid of it if diesel prices dropped, they would probably have to keep to their word. However, I also feel that nothing can probably stop them from doing otherwise since Singaporeans are known to be a tame species.

Come to think of it, there hasn’t been much activities in the motoring scene recently, and by that, I mean things related to ERP, road taxes, COE and all. Everything seems to be rather peaceful, short of that sudden $2 which some people liked and others hated. Well, I will write about that soon though. Right now, let’s hope that petrol prices don’t go on a rally upwards 🙂

Petrol price up – first rise in six months

PUMP prices have risen for the first time in six months.

Oil companies, led by Shell, started raising petrol and diesel rates by four cents a litre across the board from Tuesday.

Singapore Petroleum Company was the last to do so when it increased rates yesterday.

With the first upward movement after a continuous lowering of prices since last July, 98-, 95- and 92-octane petrol grades are now $1.62, $1.546 and $1.538 a litre, before discounts, respectively.

So-called ultra-premium fuels Shell V-Power and Caltex Platinum are now $1.799 and $1.796 a litre, respectively.

Diesel, used predominantly by taxis, buses and commercial vehicles, is now $1.283 a litre.

Industry experts said production cuts by Opec, and Russia stopping natural gas supplies to Europe had pushed oil prices up in recent weeks.

Mr David Ernsberger, editorial director (Asia) at energy industry tracker Platts, said wholesale prices of refined products – such as petrol and diesel – have ‘risen quite a lot since the start of the year’, but added that ‘it’s hard to say if the rally will persist’.

Source: Straits Times Interactive, http://www.straitstimes.com/Singapore/Story/STIStory_323264.html

Article extracted on 8th January 2008



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