With oil prices plunging, petrol pump prices have also gone down. Our utilities bill will also go down. So we have more money in our pocket. This means it is now cheaper to buy a new car and use it than taking the taxi. Since taxi fares have not gone down, the benefits of lower petrol pump prices go to the taxi drivers. The taxi uncle is now richer.

You should therefore buy a new car now.

In the 2nd Dec COE bidding, we can expect Cat A to go to $72k while Cat B will go to $78k. Many people and families have just received their December bonus and now this weekend will go to car showrooms to buy brand new cars.