The MMA study focused on the 3 main components of the import parity price (IPP) for regular unleaded petrol, premium unleaded petrol and diesel—namely, the refined fuel benchmark, the fuel quality premium and freight.

The study addressed 4 key questions:

  • are Singapore prices the most appropriate to use?
  • which are the appropriate price benchmarks to use?
  • how is the quality premium determined?
  • are the IPP calculations made by each of the refiner–marketers appropriate?