Oil giant Shell reduced its petrol pump prices by 2 cents at noon yesterday.
On Tuesday, consumer watchdog Consumers Association of Singapore said that oil companies were "profiteering" from the Government's recent petrol duty hike.
Shell's 95-octane grade now costs $2.02 a litre before discount, while its 98-octane grade is priced at $2.26 per litre. The company's premium V- Power costs $2.63 a litre.
While this is 2 cents lower than yesterday, the prices are still higher than the Government's announced duty hike of 15 cents a litre for intermediate grade petrol and 20 cents a litre for premium petrol.
Shell's pump prices before the government announcement were $1.86 a litre for its 95-octane grade, and $2.03 for its 98-octane grade and $2.40 for V-Power.
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