Oil prices, electricity tariffs don't tally
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THE prominent front-page headline "Oil trading mired in crude oversupply" (BT, Oct 2) is likely to be of even less than academic interest to the average consumer in Singapore, given that there does not appear to have been a significant downward revision in related prices here.
Oil has been on a continued downward spiral over the past quarter, from above US$115 a barrel in July and it is currently trading below US$100 a barrel.
For what they are worth, forecasts are that low oil prices will continue for some time to come.
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