Rising oil prices and crippling sanctions – what does this mean for Singaporeans?
With a global economy that has only just started adapting measures to recover from the COVID-19 economic backlash, current events create unprecedented volatility in the financial markets. Mr. Gan warned Singaporeans to prepare for the increased cost of living as a global fear of oil and gas shortages. The fact that more than 90% of their energy is imported sets the tone for price increases in petrol, diesel, and electricity. What should Singaporean do during this volatile markets?