Singapore petrol price war

In the midst of crude prices going up even as OPEC lifted production quotas, counter-intuitively, Singapore seems to be having a petrol price war going on.

todayonline.com :

The battle began at the start of the week when Shell raised its discount from 10 per cent to 13 per cent. The other companies quickly responded, and yesterday, much to motorists’ delight, the price war reached fever pitch.

Determined to stay ahead, Shell upped its rebate three times during the day, from 14 per cent to 17 per cent, then to 20 per cent, and at 5pm, to 23 per cent. Yesterday evening, the other petrol companies