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Fall in oil prices will benefit S'pore: Hng Kiang

But any competitive advantage derived from lower oil prices will be temporary; recent US dollar rise and fall in the euro not expected to have significant impact here, he says

"Lower inflation in the economy could also increase their purchasing power, thereby stimulating consumption and further boosting the economy." - Trade and Industry Minister Lim Hng Kiang


AS a net importer of oil, Singapore stands to benefit from the fall in global oil prices, said Trade and Industry Minister Lim Hng Kiang in parliament on Monday.

Lower oil prices will reduce electricity tariffs and fuel costs, and this will directly benefit both...