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my Saturday afternoonOil prices hit new high at USD110 and;
So this led me to wonder whether the strong SGD is actually sheltering Singapore residents from external supply induced generated inflationary pressures?
So I did a preliminary study to compare the prices of oil, USD/SGD and at retail pump between Jan 1, 2008 and Mar 14, 2008.
My findings:-
Between Jan 1 and Mar 14, the 10% increase in oil price is cushioned by USD depreciated by 4.22% against SGD and thus holding the pump prices to only 2% increase.
This is a very simplistic cursory observation but may still point to the fact we are enjoying the strength of SGD as consumers in this country.
SGD rises to a new high against greenback @1.379 ie. USD.
So this led me to wonder whether the strong SGD is actually sheltering Singapore residents from external supply induced generated inflationary pressures?
So I did a preliminary study to compare the prices of oil, USD/SGD and at retail pump between Jan 1, 2008 and Mar 14, 2008.
My findings:-
- Oil price was USD$100 on Jan 1, 2008.
- USD/SGD was 1.4398 on that day.
- Pump price was $2.006 per litre before discount in Jan. Today it is $2.046 per litre.
Between Jan 1 and Mar 14, the 10% increase in oil price is cushioned by USD depreciated by 4.22% against SGD and thus holding the pump prices to only 2% increase.
This is a very simplistic cursory observation but may still point to the fact we are enjoying the strength of SGD as consumers in this country.
3 comments:
the fed is further slashed the rate by 25 basis point, hopefully to moderate its inflation, or u think the oil price going to hit $120 by Jun'08??
we don't spend much on USD, do we?
conclusion: money never enough to spend though we can get back little more on greenback :(
All the articles are very interesting. more please...
Thank you indeed.
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