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1/19/2007

oil price down, prices still up

When petrol prices were shooting to US$80, companies quickly jumped at the high fuel cost and jacked up prices and fees. Now petrol prices are returning to ground level but no one seem to want to do anything. Or they are hoping to hold on with the high prices for as long as they can, and reaping all the additional profits? Commercial business logic!

7 comments:

Jeffrey said...

No, it's called human greed. WHat's there to say you won't do the same thing if you're in their position ?

redbean said...

private businesses are understandable. they need to be coerced to bring down prices. but public companies and essential services that were given a monopoly practice have a social responsibility to be fair to the people.

Anonymous said...

Those public companies that were given a monopoly to provide essential public services are run as commercail enterprises. So their mode of operations are the same as any other commercial entity.

Anonymous said...

The first responsibility of the public companies is to the share holders? No?

Anonymous said...

Yes, but you're wrong if you think that the citizens of Singapore are the true shareholders of these public companies. We may be so, in name but not so in practice.

redbean said...

yes sir, your arguments are so strong that i find difficulties reputing them. the only sad thing is that the startup money of these public companies come from taxpayers money. now they no longer see any obligation or gratitude to the taxpayers, all because they now have to take care of the legal shareholders.

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