MTI to review retail fuel market amid rising pump prices

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SINGAPORE — The Ministry of Trade and Industry (MTI) will be reviewing the retail fuel market here, covering how global developments and the practices of retail operators here have influenced the recent increase in prices.

The Minister of State for Trade and Industry Low Yen Ling told Parliament on Tuesday that the Competition and Consumer Commission of Singapore has contacted retail fuel operators for data on fuel price movements.

"Instead, the Government's approach is to ensure that we have a competitive fuel retail market," she said. This came after Mr Wee's supplementary question about the themes of the review and how it will ensure that fuel prices are representative of competitive global prices.

 

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