[Bigiron]

S’pore names Shell, ExxonMobil among 9 entities critical to national security under new investment law https://www.straitstimes.com/business/si...stment-law

[EvertonDiehard]

For a moment there, I thought that the SG Govt was going to expose Shell and ExxonMobil with cartel-like practices since it is obvious that the fuel retail distribution sector has been establishing parallel pricing practices for decades.  Such schemes probably involve the exchange of information and price signalling. Frequent promotions or even press releases by a retailer, are ostensibly to inform motorists of price changes. However, the actual intention may be to signal prices to competitors. It is even more worrying that the Competition Commission of Singapore stated that there is no evidence of collusion to set pump prices by the major players in the industry. Even if S'pore's anti-competition watchdog has found no evidence of deliberate connivance, the fact that petrol companies quickly follow each other in raising prices above the level that they should, is plain for all to see.