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It is the best thing to hear in times of rising prices…that the pump prices may go down again at the end of this month. Some analysts have also forecasted that the pump prices may drop by between 10 to 15 cents by the start of next month. This is all from the aftermath of the falling oil prices which dipped below US$90 per barrel this week.
One other good news is that the government will soon be making public the formula to calculate the price of fuel. I’m not sure if this means that consumers are able to calculate the price of fuel themselves as the oil price fluctuates. If this is it, then I foresee lots of us punching the calculator function on our mobile phones each time we hear of the latest oil price report!
Anyway, let’s wait and see and in the mean time, enjoy the lower price of fuel but don’t burn them up too fast. Bear in mind that when the price of oil goes back up, we will end up paying more too!
{ 4 comments… read them below or add one }
it’s very hard to predict to be honest. when economy downturn, they said ppl don dare to travel so much…so fuel will drop. but fuel is limited edition commodity like gold, and some ppl will take this opportunity to stock on fuel.
commodity and market move in opposite direction. i think ppl are now panicking, thats why the fuel price oso drop so much.
sooner or later, it will go back up again around 80-100 and remain there for some time.
jz my opinion
Yeah, it’s really hard to tell. Now commodities and the exchange are moving in the same direction, so there’s hardly any hedge right now. Tough investment decisions now. And I agree with you too that the price of fuel will rise again in time to come. So must enjoy the lows when they last!
Guess the overall market is still very weak. Investors are losing confidence no matter how much the governmentS are trying to change things. Let’s hope the changes come early…else i would need to sleep by the roadside soon.
Haha, painting such a gloomy picture already? Who knows, maybe your blogs can earn you enough for a hotel stay…