ExxonMobil, Shell and Caltex reduced petrol pump prices by six cents a litre on Monday just three days after they were raised by the same amount.
This brings the prices back to between $1.414 and $1.62 per litre depending on the petrol grades.
ExxonMobil brought down their pump prices at 11am on Monday and Shell at 1.30pm.
Caltex will be reducing prices at 3pm.
There is no change in the diesel pump price.
The oil companies in Singapore raised the petrol retail prices by six cents a litre on February 25th citing global market conditions and an significant rise in wholesale petrol prices. - CNA
[The above information from CNA]
I believe the drop is due to the fact that SPC didn't adjust its prices.