11/29/2007

Petrol prices up again

This is the second increase in two months. Petrol prices of 95 and 98 are over $2, at $2.006 and $2.080 and premium 98 is $2.246. But this increase is definitely due to external factors and no one can do anything about it. I wonder if there is any exceptional talent that can bring oil prices down. With petrol prices up, all things must go up accordingly as transportation is a major item in many businesses. We will just have to get use to higher prices of everything.

1 comment:

Matilah_Singapura said...

So what?

Petrol may be up, but in REAL TERMS it is still relatively cheap. Also today's vehicles are far more fuel-miserly.

Fuel costs are only a COMPONENT of the overall cost of goods produced and delivered. So even if the price of fuel goes up, the cost of the goods rise by a small amount.

Look at airfares: at the record price of fuel, air travel is still way cheaper than what it used to be. And we know airliners consume a lot of fuel.

So there is no reason for panic or concern. However panic and concern are what sells newspapers and keeps the arsehole media in business.

Believe the media at your own peril.