Pass cost savings on to consumers

Oil prices have fallen sharply in the past few months ("Oil price dips below US$30; region counts cost"; yesterday).

The Government and companies that use oil in their business should continue to pass on the benefits of this to consumers, in the form of lower utility bills, pump prices and fuel surcharges for airfares.

Falling oil prices can also benefit our economy, if current prices are hedged for the future.

But given the negative impact of falling oil prices on some businesses and countries, what would it mean for our growth forecast?

V. Balu

A version of this article appeared in the print edition of The Straits Times on January 15, 2016, with the headline 'Pass cost savings on to consumers'. Print Edition | Subscribe