Note
1. The local ex-duty retail prices in the charts above are pump prices net of duty but before taking into account any discounts. In fact, oil companies are offering various types of discounts to consumers (including walk-in discounts, credit card discounts or oil company membership card discounts etc). We have commissioned Consumer Council to post onto its website, starting from November 2008 and on a weekly basis, the local auto-fuel retail prices, including net prices after walk-in discounts and information on various types of cash and non-cash retail discounts and promotional offers by oil companies; and to launch the "Oil Price Calculator" in February 2009 (and its mobile phone version website and smart phone application in April 2009 and July 2012 respectively for drivers' easy reference ), so as to enhance price competition among oil companies and to help consumers to make their own choice among various kinds of discounts and benefits.
2. As auto-fuel sold locally are all imported, mainly from refineries in the Asia Pacific Region, the import prices of local auto-fuel are closely correlated with commodity prices in the Asia Pacific fuel market. The Mean of Platts Singapore (MOPS) is the generally accepted benchmark for Asia Pacific FOB fuel prices.
3. Import prices compiled are based on information given in trade declarations which importers are required by the Import and Export (Registration) Regulations to lodge with Customs and Excise Department. Declarations received by the Customs and Excise Department are then forwarded to the Census and Statistics Department for compilation of trade statistics. All declarations, which are processed in compiling trade statistics, are checked against cargo manifests supplied by carriers to ensure that there are no omissions or duplications. |
