|
|
Senior Member
Total Posts: 224
|
Beginning of this month, motorists rushing to take advantage of the 10 per cent discount has caused long queues of cars along busy Dunearn Road near Eng Neo Avenue, where the Shell and Esso stations are situated next to each other.
On 17 march, Finance Minister Richard Hu said in Parliament that there is ‘No sign of price-fixing’ and the local pump price is set by the petrol firm with the largest network of retail sites, which 'probably has the lowest unit cost. Others minor player simply follow suit.
But the fact is if the stations along Bukit Timah Road can survive with a 10-per-cent discount for so long, why can't a permanent discount be implemented island wide? Are these ‘Big Players”’ make Singapore motorists the suckers?
The petrol industry here was oligopolistic by nature as mentioned by the minister, therefore the chances that the big players control and fix the higher pump price is greater, small players in the retails market are usually not dare to raise the price war with the big brother.
Singapore is the world number two refinery centre, the world is depending on the oil companies here for petrol supply. And if the motorists here have to pay such a high price at source, isn’t it very ridiculous?
How much is the petrol in Malaysia?
If suspension of the 3/4 tank rule for cars entering Malaysia to buy petrol will cause Singapore to lose up to $80 million a year, than why not IMPORT the Malaysian or Indonesia Petrol?
Cars can have parallel import, Vegetables, meats, fishes and many other daily products are also endorsed and encouraged by the government to have multi-supplying sources, Why not petrol?
There is a movement on the Internet to organise motorists in Singapore to press for lower petrol prices. The website is www.breakthecartel.com.
Shall all motorists at this website join in to give our support!!!
This message was edited by cmeng on 18 May 2001 01:51 PM 
|
Ultra Senior Member
Total Posts: 1370
|
You bet I'll support!
Am really mad at the petrol companies' indifferent attitude towards consumer calls for lower prices  Most motorists tend to be brand loyal, making it difficult for the boycott to work. CASE really need to take more drastic action.
As for Richard Hu's statement, is he speaking as a former Shell chairman or as our finance minister? 
|
Ultra Senior Member
Total Posts: 2475
|
i am joining in too...i really cannot stand the way the petrol companies... ...
one, when the oil price drops, they don't lower their prices...when the oil price goes up, they raise their prices...  ...
what do they take the consumers for...??... ...
|
Ultra Senior Member
Total Posts: 42522
|
quote:
Originally posted by bwtoh:
what do they take the consumers for...??... ...
suckers perhaps  
as for 'parallel import' of petrol, it may not mean that we will get cheaper petrol price. The main bulk that constitutes the current high price was due to TAXATION*
*based on an infographic published in ST few days ago
|
Senior Member
Total Posts: 224
|
I further suggest CASE to involve NTUC, SBS and TIBS to jointly set up Petrol Marts island wide and do parallel import of cheaper petrol from outside Singapore.
Let us take Malaysia petrol price as reference benchmark for this discussion; I believed the motorists here are paying more than 110% of the price if you compare it with Malaysia pump price (based on currency exchange rate). Can someone who has the knowledge on import tax duty for petroleum do some simple calculation and tell us how much the motorists here had been over charge?
Finance Minister Richard Hu speech appeared to be not representing the government to show concern over the fellow citizens (motorists) being overcharge, he is merely stating what he understand about the pricing mechanisms when he was the CEO of SHELL, and in fact, he is more concerned about the lost of $80 million foreign exchange a year for the Singapore government as a Finance Minister.
I think beside the Finance Minister, all the member of parliament owe the citizens (motorists) a favour to stand up and speak for the people on this issue.
Motorists and forumers, please comment and contribute.
|
Ultra Senior Member
Total Posts: 42522
|
could it be that petrol in M'sia was subsidised?
anyway, it's well known that petrol price is also part of the mechanism like road tax and COE used for 'discouraging' car ownerships in SG. whether that's effective is another issue
|
Member
Total Posts: 4611
|
The reason why petrol prices are so high in Singapore is simple. Your government imposes a 40% tax on petrol + 3% GST.
For every $1.40 per litre, your government takes more than 60 cents for their coffers.
Frankly speaking, the petrol companies do not earn that much after the tax. Don't forget the expensive land lease and other ridiculous overheads the government imposes on them, and one can calculate how much they earn as profit (which is not really a lot).
The government will never drop the 3/4 tank rule, because if they do so, taxes from petrol will drop. The government will also never step in to push petrol prices down, because if they do so, their 43% tax will decrease in tandem as well (the government defend vehemently that they will not interfere with market forces, now we know why!).
Ultimately, it is the Citizens of Singapore, regardless of race, language or religion, who will continue to pay for expensive petrol in Singapore.
If anybody is to be blamed for high prices, it is the Singapore Government and not the petrol companies. You guys have been barking at the wrong tree. 
Why Malaysia petrol is so cheap is simply because of the Malaysia government subsidization and the low petrol taxes.
|
Ultra Senior Member
Total Posts: 2044
|
How much is gas over there per liter? It has risen to about 70cents/ liter over here, and estimates pegg it at over 80cents, by summer. (prices are in cdn$'s)
|
Ultra Senior Member
Total Posts: 42522
|
quote:
Originally posted by KrazyKarl:
How much is gas over there per liter? It has risen to about 70cents/ liter over here, and estimates pegg it at over 80cents, by summer. (prices are in cdn$'s)
In SG, it's about $1.3 to $1.4 plus per litre in SG Dollars 
|
Ultra Senior Member
Total Posts: 6430
|
I'm not much for singapore current events, but isn't the government doing this for a reason? if everybody could afford to drive a car, wouldn't you have more traffic than your infrastructure could support? that would lead to all kinds of economic problems since sg has such a high population density (the second highest in the world in fact - source )
|
Senior Member
Total Posts: 224
|
quote:
Originally posted by kan:
The reason why petrol prices are so high in Singapore is simple. Your government imposes a 40% tax on petrol + 3% GST.
......................................................
If anybody is to be blamed for high prices, it is the Singapore Government and not the petrol companies. You guys have been barking at the wrong tree.
Why Malaysia petrol is so cheap is simply because of the Malaysia government subsidization and the low petrol taxes.
My assumptions for this topic are:
1) Motorists understand why they have to paid high petrol price in Singapore - Taxation and car population control policy -.
2) If the Malaysia petrol price inclusive of taxation, profit margin for the retailers and is still 110% cheaper than Singapore, than what went wrong? Even we take away another 40% Taxation and 3% GST for Singapore government, it is still about 70% more than what we should pay (about 35 cents) based on cost price.
Conclusion is the oil companies here making motorists the suckers. And using the high taxation policy introduced by the local government to cover up their scheming.
Is Mr KrazyKarl from Canada, the pump price there is about S$1.181. Your country have to import fuel right, and you all are enjoying cheaper petrol as compare to us at source.
This message was edited by cmeng on 21 May 2001 12:31 PM
|
Ultra Senior Member
Total Posts: 1198
|
www.breakthecartel.com
www.delphi.com/cartorque (serious discussions regarding this topic)
|
Hardware One Forums
Email this page to a friend!
posted Fri 18 May 2001 12:52 PM
posted Fri 18 May 2001 10:23 PM
posted Fri 18 May 2001 11:10 PM