This is how a free market should work

Bravo to SPC!

This is the second time it has resisted industry-wide increase in pump prices. As a result of its resistance, the other companies have back-tracked and reduced prices. This is how a free market should work.

However, companies in industries that have few competitors and where the product is identical – petrol, telecommunications, electricity, to name a few – have a propensity to “work together” so that prices move in tandem, much to the dismay of customers.

The onus is the on the anti-competition watchdog to call out instances of such collusion and bring offenders to task. The public should also voice their displeasure, which can be a powerful force, given today’s wide-spread use of social media.

Talking of which, the authorities should investigate why the other petrol companies, other than SPC, moved price in tandem.

 

Foong Swee Fong

 

 

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7 Responses to “This is how a free market should work”

  • Irene Vanessa Wan Pat Pat:

    People own cars so as to have face.

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  • Top Money for Top Talents:

    Dear Foong,
    Common sense tell you that it is our great PAP scholar government that make this happen.

    Therefore you are praising the wrong party…

    It should be Bravo to PAP.

    PAP really Tua Kee.. that even gay inclined Taiwan DPP President Tsai copy all our PAP laws and policy. Now Taiwan also had ISA under a different name called 反渗透法。(anti-infiltration law).

    Anyone that criticized DPP government will be arrested for working with CCP to criticize DPP government…. hahahaha

    What is democracy?
    Ans: You are the peasants, me President Trump is the master.
    何谓民主?你们是民。我Trump总统是主。

    GE2020.PAP.Guarantee.Win.All
    $PAP$ Tua Kee; Majullah $PAP$; $PAP$ Huat$ Huat$ Huat$
    Singaporeans must be Cheaper, Better, Faster.
    Workers must accept wage sacrifices to keep businesses going.

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  • Python 5:

    SPC is owned by Sinopec. the PRCs are very smart in doing business.

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  • @Python 5

    PRC businessmen are a bunch of very proud and arrogant people. One thing I learnt from this worldwide Covid-19 crisis is that most of them are wary and reluctant to profit from a “national disaster”.

    To them, thats disgraceful and something shameful to do. I can perfectly understand why SPC refused to raise prices especially when oil prices are at rock bottom.

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  • PRC/ROC Lies:

    TRE Techie:
    @Python 5

    PRC businessmen are a bunch of very proud and arrogant people. One thing I learnt from this worldwide Covid-19 crisis is that most of them are wary and reluctant to profit from a “national disaster”.

    To them, thats disgraceful and something shameful to do. I can perfectly understand why SPC refused to raise prices especially when oil prices are at rock bottom.

    PRC feel disgraceful and shameful to profit from national disaster ?

    The PRC/ROC are both world source of mess, greedy, dirty and destroying environment for profit… with PRC leading the way hiding the pandemic.

    You must be reading too many lies from CCP/DPP controlled media.

    Whether it is ROC DPP or PRC CCP, when the 2 Ps said “为人民服务” it means lining their own pockets with corruption money and projects.

    小英身旁的人贪污 柯P坚不道歉
    https://lvcnn.com/cn/news.php?id=27404

    And China One Belt One Road (一带一路) is fast becoming One Debt One Road (一债一路)

    China will collapse under high debts and high corruption and no more China and no more communism..only PAPism hahaha

    PAP Tua Kee.

    GE2020.PAP.Guarantee.Win.All
    $PAP$ Tua Kee; Majullah $PAP$; $PAP$ Huat$ Huat$ Huat$
    Singaporeans must be Cheaper, Better, Faster.
    Workers must accept wage sacrifices to keep businesses going.

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  • trublu:

    So,SPC is doing FREE MARKET A BIG SERVICE compared to FREE COUNTRIES’ OIL GIANT$$$?

    TOT THAT FREE COUNTRIES ARE OPPOSED TO MONOPOLISTIC BUSINESS PRACTICES,or for that matter,oligopolistic cartel$$?

    Well,who can say for sure what their true intentions are?
    Perhaps they have STORED PLENTY OF OIL?
    OR,maybe they want to win goodwill.
    Or,probably,the y want to show how the WESTERNERS TALK MORE BUT THAN *WALK*?

    WELL,HK PROTESTS VS USA PROTEST IS FINE EXAMPLE OF HOW USA DONALD DUCK N WEST HAVE DOUBLE STANDARDS ALWAYS IN THEIR FAVOUR???

    I guess Merkel is more stable?

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  • Harder Truths:

    In Communist Island everything is priced by the regime. From the food you eat to the house you rent (not buy) to the money you are forced to save for retirement (that you will never see).

    You may see the petrol prices go down a bit now – but they will start rising again no matter what the real prices are across the globe.

    There is no free market in $G. Never was since 1965. Never will be until the system collapses. No economy with a made-up communist economy has ever lasted.

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