CCS's reply to ST Forum letter 'Watchdog should monitor pump prices'

Decisions in Competition panel's view of petrol pricing

Pump petrol is a relatively homogenous product sold by a few companies in Singapore ('Watchdog should monitor pump prices' by Mr Elgar Lee; March 23).

Hence, it is not uncommon for pump petrol prices to move up or down at about the same time, even in a competitive market. As long as the companies set their prices independently, the observation of parallel price movements does not provide sufficient evidence of anti-competitive behaviour.

The Competition Commission of Singapore is monitoring the movement of petrol pump prices and will take action if there is evidence that market players are colluding to fix prices.

For queries, please contact 1800 3258282.