Up, up, down, flat?

Just saw some interesting stuff in the newspaper today.

Seems that the price of oil is going south. From the heights of $130+ per barrel to about $106+.
That's like a reduction of 19% at the minium.
Yet, the news are moaning about how the drop in oil price is not a good thing. Economy's slowing down, they say. Yadda yadda yadda. I say, gee wiz... nothing sells papers like bad news isn't it? (Meanwhile, China is "quietly" spending billions of poundsterlings investing in British company shares.)

And closer home, we have this:

Undoubtedly, Singaporeans can look forward to lower utility bills, more affordable pump prices and cheaper food at the supermarket. Companies could also enjoy some respite in business costs.
But don’t hold your breath for bus and taxi fares to fall anytime soon, barring any directives from policymakers. “The transport operators went through quite a lot to push through the increases, so, they would probably wait and see,” said OCBC economist Selena Ling.

Wha?
Weren't the fares increased due to the "massive hike" in fuel price?
Did the "policymakers" not approve of the hikes for this reason?
And now the fares are going to remain high, just because?
Well done. Make sure you give us bigger dividends to recoup the fare increase ok?

Come to think of it, did the "policymakers" ever push for lower fees?

One totally unrelated info: The Kuching Kolo Mee store seems to have slashed the price for their servings. I remembered paying $4.50 for the Char Siew set, which now sells for $4.00.