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Downward revision of petrol prices is faster than upward revision: Tan Wu Meng

With the volatility in oil prices, a Member of Parliament has conveyed concerns that some residents have the impression that the upward revision of petrol prices is faster than the downward reflection of crude prices. However, Senior Parliamentary Secretary for Trade and Industry Tan Wu Meng clarified that “it takes longer for the pass through on the upward side, but it’s faster when it happens on the downward side”.

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