He summarized the computation by the following table.
The monthly price for Ron 95 is depended on one key element -Means of Platts (Singapore).
MOPS (short form for Means of Platts Singapore) is the average of a set of Singapore based oil product price assessments published by Platts.
Platts is a global energy, petrochemicals, metals and agriculture information provider and it is a division of McGraw Hill Financial, Inc.
From the website of CME Group Inc. we can get the monthly chart for 'Singapore Mogas 95 Unleaded (Platts) Future Quotes' as shown below. Click 'CME Group' for the website.
From what our minister had said, our current month petrol price calculation is based on the average of the previous month international petroleum price. That means our February Ron 95 price of Rm 2.30 a litre is based on January Data.
I have superimposed our monthly Ron 95 prices from September 2015 to February 2016 on the CME Group's monthly chart as shown below.
The price movements correlate very well except that few months before and after the Sg. Besar and Kuala Kangsar by-elections on June 18. There were price manipulations.
To date the February MOPS prices were higher than the January prices. If the current MOPS price doesn't drop for the rest of February. Our Ron95 price for March is expected to be higher than the February price of Rm 2.30. πππππ.
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