Why does the price of petrol constantly change when other goods like milk or bread don’t?
Many consumers buy petrol based on price and this drives service stations to constantly change their price to match or beat competitors to attract more customers which in turn drives non-fuel income such as shop sales. This competition is increased by price boards that allow customers to compare and make decisions on where to buy without even getting out of their car. Underlying this local competition, the Singapore benchmark price of petrol is highly variable over short periods of time and this directly affects pump prices.
