Shell and Singapore Petroleum Company (SPC) have reduced their
pump prices.
Shell lowered their prices from noon on Monday followed by SPC
one-and-a-half hours later.
Shell Formula 98, Shell Formula 95, Shell Formula 92 and Shell
Diesel were cut by three cents per litre.
Shell V-Power now costs two cents less per litre.
Shell says the reductions are because internationally traded
finished product prices have started to ease.
SPC reduced its petrol and diesel prices by three cents a
litre.
Others like ExxonMobil and Caltex also followed suit.
Just beginning this month, the companies had increased their pump
prices by 5 to 9 cents per litre.
This due in part to the effects of Hurricane Katrina in the US,
which cut oil refining capacity.
- CNA/ir/ls