PETROL STATIONS (Posting of actual pump prices)

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PETROL STATIONS:

(Posting of actual pump prices): 4.

Mr Ong Kian Min asked the Minister for Trade and Industry if his Ministry will consider making it a requirement that all petrol stations post their actual pump prices prominently on billboards in their forecourts, and not just the percentage discount as is the case now.

Mr Lim Hng Kiang: Mr Speaker, Sir, I agree with Mr Ong that displaying pump prices prominently together with the percentage discount will be more consumer-friendly. Consumers will be able to know upfront the base prices and calculate how much they will be paying after the discounts. This is a good practice and we will encourage all petrol stations to do so.

Traders and suppliers should always strive to present accurate and adequate

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product information and prices to consumers. This will improve market transparency and enable consumers to make informed choices. MTI will be happy to work with CASE to acknowledge petrol stations that adopt good practice in displaying their pump prices. This will hopefully spur industry players to improve their information display to consumers, and raise our overall business standards.