Respond more quickly to falling oil prices

When oil prices were on the up and up, petrol companies were quick to raise pump prices in tandem with the increase.

But with falling oil prices over the past few months, petrol companies have been slow to lower pump prices and even then, the price decrease was not as much as the fall in oil prices ("Oil price dips below US$30; region counts cost"; Jan 14).

Petrol and energy retailers should be fair to consumers and adjust their prices as quickly in response to falling oil prices, as they are in adjusting prices upwards when oil prices increase.

Chen Tze Hui (Ms)

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