Shell stations in Singapore take down price boards

Royal Dutch Shell will no longer display pump prices at the entrances of its gasoline stations in Singapore; this move marks the end of Shell’s seven-year solo campaign to raise price transparency in Singapore’s oil industry. Motorists will instead learn about fuel price changes on the pump island or on the company’s website. In 2007, Esso stopped issuing statements to the press regarding price changes and other companies have followed suit. Shell, however, continued to flash its rates on price boards strategically placed at the entrances of its 60 stations since 2005. Dawn Phang, Shell’s general manager of retail and operations, said the company conducted extensive research before arriving at its decision. “Our research shows that customers prefer information on the services and products we provide at our retail stations to price boards,” she explained. Consumers Association of Singapore (CASE) Director Seah Seng Choon reacted to Shell’s decision and said, “We’re disappointed with Shell’s move. It is indeed a step backwards in terms of transparency. Over the years, motorists have found it useful to have sight of the price before they drive into Shell stations. The price board made Shell stand out in terms of transparency.” All oil companies in Singapore post their rates at their websites, except for Esso. “We do not post pump prices on our website as that may be construed as anti-competitive behavior. The company’s policy has been to communicate price information directly to customers at its service stations,” said Geraldine Chin, ExxonMobil regional retail sales manager explained. (June 27, 2012)