Petrol price hike again

Oil price hits US$111. A good and justifiable reason to hike petrol prices. Is it? If I am not mistaken, oil prices are traded using US$. We are paying in S$. S$ is appreciating against US$. The petrol price hike is in S$. Are the price hike justifiable?

Is CASE looking into this to make sure consumers are not taken for a ride and petrol companies are not profiteering?

Can any thing be done to