Govt will review fuel retail market to determine if there are other ways to alleviate prices

A review of the fuel retail market is underway to see if there are ways to ease the pressure on fuel prices. Parliament has been told the government will continue to monitor the situation, and will not hesitate to provide more assistance if required. Minister of State for Trade and Industry Low Yen Ling was responding to a question on whether petrol and diesel pump prices will be regulated amid higher prices and record profits for oil companies. Singapore’s competition watchdog is also gathering data on price movements from retail fuel operators to support the study.

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