whose rising cost?!?

countdracula SG

i had thought the government promised to tackle the rising cost during their election campaign. however, after the cabbies, buses and mrt fares are to rise soon. i do wonder whose cost were the pap referring to, the common folks’ or the profitable transport companies…..

ShutterBug SG

Good point.

Looks like they are looking after their interests first, then us...

It seems that way all these while....

goldmouse369 SG

What to do. before election already people expect that there will be a rising of fare everywhere. so true enough. all their tale come true. SO do we have a choice.

Parka SG

Do you think the government is powerful enough to bring down oil prices?

LazerLordz SG

Thay can bring down our oil prices domestically, but it will mean an increase elsewhere to fund oil subsidies.

We cannot affect the price of crude.

ditzy SG

Of course not lar, but I remembered during this year's election rally speech made by one PAP MP commenting whether the opposition has the power to control oil prices also. Laughing

dragg SG

say only mah, no black and white.

Twisted Evil

mochou SG

i would rather believe in satan than to believe in what politician says.

BrUtUs SG

u actuali believe anything they said? Laughing

sgheartland SG

have lah, they got tackle, see they dont suddenly give an avalanche of announcements, they space out the price increases month by month so we got time to adjust, cut down on our other expenses to squeeze out the extra money...

drawer SG

Whose rising cost?Of coz is the government,they have no control of the oil price but they can subsidize the cost.And besides,they use the excuse of the rising oil price to increase transport fares.Then when the oil price goes down,did they decrease the public transport fees?

From the way i look at it,our communist government only know how to increase our transport fares,they dont know(or dont want) to reduce it.So there is only one-way ticket for transportation cost,UP!!!!

Lowclassman SG

Rising oil price is not really significant to the impact of our daily lives at the moment. Say the oil price hit USD100 per barrel.

That works out to be USD100 divided by 200 litres.

= USD0.50 per litres x 1.6
=S$0.80
To add the refinery cost maybe at S$0.30 per litres or less.
In total the final cost of product is only S$1.10 per litre.

Of course, we have to add the other expenses and cost for profits, storage, transportation, wages, taxes.....Now, talking about taxes...there are already too many hidden taxes that consumers have to bear. The worst of all is...the oil tax is peg floating with the fluctuation of oil prices and there goes the GST. Eventually, the end consumers that suffer with all these crabs.

In reality, everytime the more oil price increase the merrier is to the oil companies and the gov.
In anyway, if the gov wants to balance the price of oil. The gov is able to do so..But the fark is the gov is also greed for money!!!

The truth...there's no shortage of oil supply on our planet.. those powerful and the rich are controlling the oil price. Certainly, the world could live without oil so...the powerful and the rich are taking oil as their weapon for the greed of their benefit. So as our gov.....

Parka SG

Originally posted by Lowclassman:

Rising oil price is not really significant to the impact of our daily lives at the moment. Say the oil price hit [b]USD100 per barrel.

That works out to be USD100 divided by 200 litres.

= USD0.50 per litres x 1.6
=S$0.80
To add the refinery cost maybe at S$0.30 per litres or less.
In total the final cost of product is only S$1.10.

Of course, we have to add the other expenses and cost for profits, storage, transportation, wages, taxes.....Now, talking about taxes...there are already too many hidden taxes that comsumers have to bear. The worst of all is...the oil tax is peg floating with the fluctuation of oil prices and there goes the GST. Eventually, the end consumers that suffer with all these crab.

In reality, everytime the more in oil price increase the merrier is to the oil companies and the gov.
In anyway, if the gov wants to balance the price of oil. The gov is able to do so..

The truth...there's no shortage of oil supply on our planet.. those powerful and the rich are controlling the oil price. Certainly, the world could live without oil so...the powerful and the rich are taking oil as their weapon for the greed of their benefit. So as our gov..... [/b]

Do you study economics?

Lowclassman SG

So..you are an economist???

socrates SG

something is wrong with your calculation. The crude oil has to be refined, meaning 10 barrels of crude oil may only give 4.6 barrels of petrol back. Furthermore 1 barrel is about 160 litres only. Using tis calculation, 1 litre cost approximately $2.17 without refining charges

http://en.wikipedia.org/wiki/Barrel

The standard barrel of crude oil or other petroleum product (abbreviated bbl) is 42 US gallons (about 34.97 Imperial gallons or 158.99 L). This measurement originated in the early Pennsylvania oil fields, and permitted both British and American merchants to refer to the same unit, which was based on the old English wine measure, the tierce.

Oil has not been shipped in barrels for a very long time [3] since the introduction of oil tanker ships, but the 42-US-gallon size is still used as a unit for measurement, pricing, and in tax and regulatory codes, each 42(US)-gallon barrel making about 19½ gallons of gasoline

Parka SG

Studied.

The rising cost comes from the cost of doing business. Everything runs on electricity and we all know where electricity comes from. Even a 1 cent increase in oil prices translate into a sizable amount if you're an entity that uses a lot of electricity. That is balanced off by occasional drops in prices but so far prices are not dropping.

Sure someone can absorb the increase, but for how long?

socrates SG

Now approximately US$73.73 per barrel. After refining, it give 75.2 litres or gas. As such, it cost US$0.98 or S$1.57 per litre as the cost price. Now petrol cost about S$1.68 per litre. This ia after refining cost, gas station land rental, wages, transportation, r&d, profit for gas company has been lumped in.

I think it is unfair to say that tax has cost the price of petrol to increase. Tis is because 93.45% of the cost of gas is on the cost price of crude oil

Lowclassman SG

Originally posted by socrates:
something is wrong with your calculation. The crude oil has to be refined, meaning 10 barrels of crude oil may only give 4.6 barrels of petrol back. Furthermore 1 barrel is about 160 litres only. Using tis calculation, 1 litre cost approximately $2.17 without refining charges

http://en.wikipedia.org/wiki/Barrel

The [b]standard barrel of crude oil or other petroleum product (abbreviated bbl) is 42 US gallons (about 34.97 Imperial gallons or 158.99 L). This measurement originated in the early Pennsylvania oil fields, and permitted both British and American merchants to refer to the same unit, which was based on the old English wine measure, the tierce.

Oil has not been shipped in barrels for a very long time [3] since the introduction of oil tanker ships, but the 42-US-gallon size is still used as a unit for measurement, pricing, and in tax and regulatory codes, each 42(US)-gallon barrel making about 19½ gallons of gasoline
[/b]

What about diesel, kerosene and other oil base products that will be generated???

You cannot base on the net yield of petrol from crude oil....