Petrol prices drop 4 cents for third time in two weeks
By Patwant Singh/Satish Cheney, Channel NewsAsia | Posted: 21 July 2008 2149 hrs

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SINGAPORE: Good news for motorists. Petrol prices have fallen for the third time in two weeks.

Shell cut 4 cents per litre off its main grade, 3 cents off V-Power and 2 cents off its diesel prices on Monday.

Two other companies Caltex and Esso/Mobil also lowered their prices shortly after. They lowered prices for their petrol by 4 cents on average, and 2 cents for diesel.

In a statement past midnight, Singapore Petroleum Company (SPC) said it was also reducing its pump prices by 4 cents per litre for its three grades of petrol and 2 cents per litre for diesel.

Petrol pump prices have risen 13 times consecutively since July 2007, before falling on July 9 and again on July 17.

- CNA/ir