taken from CNA
Shell, Caltex reduce pump prices in response to Budget
changes
Pump prices are set to come down further following changes in
petrol excise duties announced in the Singapore Budget on
Friday.
Shell announced it was reducing its pump prices for four grades of
petrol from midnight on Friday in response to the changes.
For Formula Shell V-Power, the new price will be $1.416 per litre,
which is down by 0.059 cents.
Shell Super is $1.345 per litre, down by 2.1 cents; Shell Fusion is
$1.263 per litre, down by 2.4 cents; and for Formula Shell Extra,
it will be $1.232, down by 0.008 cents.
The company says passing on savings to its customers reflects its
intention to be price and market competitive.
Caltex followed suit, by becoming the second petrol company to
announce cuts in pump prices.
For its Vortex Platinum grade, the new pump price is $1.398 per
litre, down by $0.049;
Vortex Gold is $1.346 per litre, down 2 cents, and for Vortex
Silver, it is $1.263, down by $0.024.
The new prices take effect from 11pm on Friday.
Mr John Walsh, Caltex Retail Manager for Singapore, said the
company was passing on the benefits of the lower excise duties to
its customers immediately as it is aware that every cent counts for
them.
