The price of oil per barrel has dropped to below the USD130 mark from a peak of USD147 about a week ago. USD128 is still pretty high, though, and cab companies are hedging themselves off from further losses in profit by charging a"diesel surcharge" which is just a round about way of saying that they're increasing fares. Comfort taxis implemented this SGD0.30 per trip surcharge last Thursday and SMRT taxis will start charging the same extra amount on the 26th. Like Comfort, SMRT says that they will remove this surcharge with the price of diesel drops to December's price of USD1.19/L. Premier, Smart and Trans-cab will also be following suit with a diesel surcharge soon. So besides the peak hour, CBD, midnight and airport surcharges along with ERP charges, we'll also have to pay for the fact that cabs need fuel. Hmm....
There's really no escaping the increase in transport costs since public transport fares will also be revised soon.
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