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In addition, CCS would be conducting a consumer survey on petrol demand in
Singapore to better understand consumer choices and switching behaviour
on petrol purchases. CCS will release the final report when the analysis of the
survey result is completed.
THE RETAIL PETROL PRICE THAT CONSUMERS GENERALLY PAY INCLUDES
THE PETROL LEVY AS WELL
AS DISCOUNTS AND REBATES
.
Between 1 January 2010 and 31 January 2016, it was observed that for every 10 SGD
cents change in the price of MOPS, the listed petrol price changed by 7 SGD cents in
the same direction, and this took place over a 10-day period on average.
THE LISTED RETAIL PETROL PRICE MOVED IN TANDEMWITH THE PRICE OF MOPS
OVER THE STUDIED
SIX-YEAR PERIOD BETWEEN 1 JANUARY 2010 AND 31 JANUARY 2016.
4
After taking into account the discounts, rebates and levy increase in February 2015,
the effective price that consumers paid for Octane 95 was found to have fallen by 45
SGD cents (-24%) instead. There appeared to be a relatively high level of pass-through
of the fall in MOPS price to consumers over this period.
FOR THE PERIOD OF JUNE 2014 TO JANUARY 2016:
Crude and MOPS prices are
converted from US to Singapore
dollar to account for changes in
exchange rates. MOPS prices are
from Platts.
MOPS PRICE FELL BY 52 SGD
CENTS (-53%)
CRUDE OIL PRICE
FELL BY AN AVERAGE
OF 59 SGD CENTS
(-67%)
For the period between June 2014
and January 2016, the pass-through
of the change in MOPS price (52 SGD
cents) to listed Octane 95 price (35
SGD cents) was approximately 67%.
LISTED PRICE OF OCTANE 95 FELL
BY 35 SGD CENTS (-15%)
.
5
BASED ON THE INFORMATION GATHERED, THERE WAS NO EVIDENCE TO
SUGGEST COLLUSION IN PETROL PRICING
, EVEN THOUGH PETROL COMPANIES
MONITOR AND REACT TO EACH OTHER’S PUBLISHED PRICES.
6
Octane 95
petrol is the
most pumped
petrol in
Singapore.
Consumers enjoyed an average of about 18%
in discounts and rebates off the listed price for
Octane 95 petrol in 2014
95
3
23
CCS ANNUAL REPORT 2015-2016
GUIDING YOU TO NEW HEIGHTS