• My Account
    • Account details
    • Edit Account
    • Lost password

No products in the cart.

  • Login
Friday, August 12, 2022
Thailand PR News
  • Banking
  • Companies
  • Economics
  • Lifestyle
No Result
View All Result
Thailand Business PR
  • Banking
  • Companies
  • Economics
  • Lifestyle
Friday, August 12, 2022
No Result
View All Result
Thailand Business PR
No Result
View All Result
Home Economics

Soaring Global Prices To Drag On Energy Demand Growth In Singapore

Fitch Solutions by Fitch Solutions
June 30, 2022
in Economics
Reading Time: 2 mins read
A A
0
Soaring Global Prices To Drag On Energy Demand Growth In Singapore
Share
Tweet
Pin it
Share
Share

Key View:

  • Singapore’s fully liberalised fuel market structure and substantial dependence on imports mean domestic fuel prices are set to see rampant rises in the coming months, in reflection of surging global oil and gas prices amid uncertainties stemming from the war in Ukraine.
  • The surging prices of oil and gas pose downside risk to forecast demand growth in Singapore, just as the island nation steps up on its post-pandemic reopening plans.
  • The government has so far ruled out providing heavy fuel price subsidies or market intervention in response to higher global prices.
  • The current market conditions support our long-held view for oil and gas consumption growths in Singapore to trend downwards over a longer-term horizon, as Singapore pursues ambitious climate ambitions.

RelatedPosts

Mongolia-Russia Relations Likely To Strengthen As Gas Pipeline Gains Momentum

India’s Production-Linked Scheme Will Enhance Domestic Bulk Drug Manufacturing Capabilities

Bank Of Thailand On The Cusp Of Tightening Monetary Policy

Singapore’s fully liberalised fuel market structure and substantial dependence on imports mean domestic fuel prices are set to see rampant rises in the coming months, in reflection of surging global oil and gas prices amid uncertainties stemming from the war in Ukraine. For instance, pump prices for RON 92, 95, 98 and premium gasoline rose by an average of more than 25% in the year to date, to a multi-year high. The rise in motor diesel prices was more aggressive, coming in at 43% in the YTD. In addition, public bus and train fares have seen first increases in two years, while ride-hailing firms have begun to charge higher fares, to pass on higher costs to consumers. The biggest contributor to the rampant rise in domestic pump prices has been supply tightness and growing supply uncertainties in the market that has been exacerbated by the crisis in Ukraine. Singapore has minimal direct exposure to Russian oil and gas, although is 100% reliant on crude oil and natural gas as refining feedstock and inputs for the power and industrial sectors.

Read More

Share 0
Tweet 0
Total
0
Shares
Share 0
Tweet 0
Pin it 0
Share 0
Previous Post

Medium & long-term knock-on effects of the war in Europe on global sectors trends

Next Post

Enumeration and Account Testing Attacks: What You Need to KnowVideo

Fitch Solutions

Fitch Solutions

Related Posts

Mongolia-Russia Relations Likely To Strengthen As Gas Pipeline Gains Momentum
Economics

Mongolia-Russia Relations Likely To Strengthen As Gas Pipeline Gains Momentum

Key View At Fitch Solutions, we believe that diplomatic relations between Mongolia and Russia will continue strengthening, propelled further...

by Fitch Solutions
August 11, 2022
India's Production-Linked Scheme Will Enhance Domestic Bulk Drug Manufacturing Capabilities
Economics

India’s Production-Linked Scheme Will Enhance Domestic Bulk Drug Manufacturing Capabilities

Key View India’s production-linked incentive scheme will reduce imports by promoting domestic manufacturing of pharmaceuticals. The country will remain...

by Fitch Solutions
July 30, 2022
Bank Of Thailand On The Cusp Of Tightening Monetary Policy
Economics

Bank Of Thailand On The Cusp Of Tightening Monetary Policy

Key View We expect the Bank of Thailand to hike its policy rate by 50bps to 1.00% by end-2022,...

by Fitch Solutions
July 18, 2022
Next Post
Enumeration and Account Testing Attacks: What You Need to KnowVideo

Enumeration and Account Testing Attacks: What You Need to KnowVideo

  • Thailand PR News
  • News
  • My account
  • Privacy Policy
  • Cart
  • Contact Us

© 2022 Siam News Network - Thailand Business News and advertising Network. Powered by VLoss.

No Result
View All Result
  • Homepage

© 2022 Siam News Network - Thailand Business News and advertising Network. Powered by VLoss.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In