Jobless Singaporean Questions Rise In Electricity Tariffs While Crude Oil Prices Are Rangebound

Recently the state media reported that electricity tariffs for households are expected to rise by 9.3% in October to December 2020. A jobless Singaporean has spoken up on this issue.

He said that our electricity is largely generated by natural gas. An interesting point he observed was that the crude oil price has been rangebound in the past three months, and that there is a strong relationship between crude oil and natural gas. This should mean that crude oil prices should not be shooting upwards.

So this Singaporean questions why electricity tariffs are still expected to increase by 9.3%? He feels there is a lack of public consultation on why prices in Singapore keep increasing.

As Singaporeans become more educated and financially savvy with the happenings on the international level, it will not be easy for us to be taken for a ride.