S’pore pump price war?
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Singapore filling stations reportedly lowered prices twice in a day, sparking off what could become a price war in the city state, ChannelNews Asia has reported. Falling wholesale prices and the keen competition for drivers’ dollars is said to have triggered the cuts.
ExxonMobil was reportedly the first to drop prices at 10am Wednesday morning, by 3 Singapore cents for petrol and 5 cents for diesel. Caltex matched those cuts at 10.30am, with the Singapore Petroleum Company (SPC) following suit at 11am.
Shell then slashed petrol and diesel pump prices by 4 and 6 cents respectively, forcing further cuts by its rivals.
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