Thx for the support guys!
Frequently Asked Questions:
1. Why are we using MOPS/MOGAS to calculate the fuel prices? Why not use Brent/Crude oil prices? (Credit to Lone Wolf X)
Most probably the same reason why Australia & Singapore uses it.
"The petrol companies use Mean of Platts Singapore (“MOPS”) prices, not crude oil prices in their cost accounting and pricing decisions for retail petrol. Crude oil price is the price of unrefined oil while MOPS price is the price at which petrol companies purchase the refined wholesale petrol from the refineries. MOPS price tends to be higher than crude oil price as it includes the cost of refining the crude oil into wholesale petrol." - quoted from the www.ccs.gov.sg below
FYI - MOGAS is one of the product listed under MOPS
You don't eat Paddy, you eat cooked Rice. Same for your car, it doesn't take crude oil, it takes refined fuel - priced using MOPS for our region.
Paddy = Crude Oil Price
Cooked Rice = MOPS Price
Facts About the Australian Retail Fuels Market and Prices
UNDERSTANDING PETROL PRICES IN SINGAPORE.
Interim Findings From CCS's Retail Petrol Study
This post has been edited by isr25: Oct 12 2021, 08:06 AM