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Cheaper crude, but higher pump prices


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http://www.straitstimes.com/lifestyle/motoring/fast-lane-8

Cheaper crude, but higher pump prices

Crude oil prices have fallen below the US$40 (S$56) level. On the New York Mercantile Exchange this week, West Texas Intermediate crude, a US benchmark, fell to US$39.63 – its lowest in more than six years.

Current pump prices, however, are still 12 to 16 per cent higher than when they were in 2009, discounting the hike in petrol duty in February this year.

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