Singapore's consumer watchdog has urged fuel companies in Singapore to «exercise greater transparency and restraint» in pump price adjustments after they raised prices for five consecutive days last week. The comments were made by Consumer Association of Singapore (Case) president Melvin Yong at the association's 55th anniversary and partners' appreciation dinner on Sunday (March 15). In his speech, Yong noted that consumers today face new and evolving concerns, such as those faced by motorists given the sharp rise in petrol prices. «Within just a few days, several petrol operators raised pump prices multiple times. However, when international oil prices fell as reported in local news last week, local oil companies continued raising the price of 95-octane gasoline,» Yong said.He added that consumers are aware that global events and geopolitical tensions can affect oil markets: «When oil prices go up, pump prices move up quickly. But when global prices fall, consumers expect those savings to be reflected just as quickly.» Read more