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Pump prices cut second time this week
Thu, Jul 24, 2008
The Straits Times

By Maria Almenoar

PUMP prices fell again on Thursday - for the second time this week.

Led by petroleum company Shell, the cut by three cents per litre is the fourth in a fortnight.

The latest adjustment brings a litre of 92-octane petrol to $2.103 a litre; 95-octane to $2.136 and 98-octane petrol to $2.210 - all before discount.

Prices also fell by three cents a litre at diesel pumps.

The price of compressed natural gas (CNG) remained at $1.73 per kg on Thursday.

But Smart Enger which retails the CNG said it would review rates at the end of the month when it gets billed by its supplier.

ComfortDelgro welcomed the reduction in diesel rates but noted that prices were still very volatile.

' It should be noted that despite the recent decline in prices, fuel prices are still trading at record highs," it said.

"ComfortDelGro continues to heavily subsidise our drivers ensuring that they pay just $1.19 per litre of diesel, compared to $1.77 per litre if they had pumped outside."

The drop at the pumps follows a slide in international crude oil prices.

Oil fell 3.1 per cent to US$124.44 a barrel on Wednesday, dropping below US$125 for the first time in six weeks, after a US government report showed that fuel stockpiles increased. Crude prices were little changed on Thursday.

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