8 August 2018 01:06 am
Fuel prices are determined every two months according to the pricing formula introduced on July 10 but it had not affected kerosene prices.
Ministry’s Information Director M. Ali Hassan said when compared with the July international crude oil prices, they had dropped this month.
He said according to World Market prices a barrel of crude oil was selling at SGD73.85 in July and SGD98.09 in May while it had dropped to SGD69.05 this month.
“Therefore, there may be a drop in the prices in the wake of Friday’s fuel pricing committee meeting,” Mr Hassan said. (Chaturanga Samarawickrama)