Overheads limit majors' ability to extend lower petrol prices
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
OVERHEAD costs may be limiting oil majors' ability to pass on the effects of lower crude oil prices to Singapore consumers in the form of lower petrol prices, according to market watchers based here.
It has become somewhat of a longstanding gripe among consumers that petrol prices in Singapore do not seem to fall as much or as fast as crude oil prices. The matter was raised in Parliament last month as global oil prices fell, and has been highlighted again as pump prices stay unchanged even as the West Texas Intermediate (WTI) grade of crude oil traded at below-zero prices for the first time on Monday.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
