Hmmm, I don’t think this is true. (Where is the POFMA?)
For the last week, petrol cost has gone up almost everyday. I remember pumping gas at $2.68 or so and now, it has gone above $3.20 (easily 20% increase)
And we were told Singapore has a lot of oil reserves, and since the oil was pre-paid, when the oil prices were very low…