PUBLISHED ONApril 07, 2026 2:17 PMBYSean LerThe dust had barely settled on the Government's announcement of a first tranche of support measures for businesses, households and industry sectors impacted by the ongoing Middle East conflict when two fuel companies — Sinopec and SPC — again hiked their diesel prices for a second consecutive day.
China-headquartered oil and chemical company Sinopec raised its posted price for diesel at around 4pm by 25 cents to $4.68 — mirroring prices set earlier by Esso and Shell on Monday — while SPC also raised its diesel price, but by 20 cents to $4.62.
Both companies had also carried out upward price adjustments on Monday, by 20 cents and 30 cents respectively.
This means that Sinopec raised its diesel price by 45 cents over two days, while SPC increased its price by 50 cents over the same period.
Earlier in the day, Caltex also announced an increase in its diesel price by 25 cents to $4.68.
Across the entirety of Tuesday, the global Brent benchmark whipsawed between US$110 and US$111 as US President Donald Trump's deadline for Iran to open the Strait of Hormuz by Tuesday night (8am Wednesday, Singapore time) loomed near.
The president also doubled-down on threats that Iran could be "taken out", writing in a Truth Social post on Tuesday night that "a whole civilisation will die tonight, never to be brought back again".
Following the latest round of price movements, the cost of diesel now ranges from $4.62 at SPC to $4.68 at Caltex, Esso, Shell and Sinopec.
| Company / Fuel | 92-octane | 95-octane | 98-octane | Premium | Diesel |
| Caltex* | $3.43 | $3.47 | Not available | $4.16 | $4.68* |
| Esso | $3.43 | $3.46 | $3.98 | Not available | $4.68 |
| Shell | Not available | $3.46 | $3.98 | $4.20 | $4.68 |
| Sinopec* | Not available | $3.47 | $3.97 | $4.10 | $4.68* |
| SPC* | $3.43 | $3.46 | $3.97 | Not available | $4.62 |
Prices are correct as at 9.30pm on April 7. All prices are before discounts. *Indicates change to posted price(s) on April 7. | |||||
Amidst a series of support measures to cushion the impact of the Middle East situation, the domestic transport sector received assistance in the form of a disbursement of $200 in cash to active platform workers, private-hire car drivers and taxi drivers.
Essential bus services, such as those for school students, seniors and persons with disabilities will also receive temporary aid from the Government in co-funding cost increases to ensure service continuity.
Meanwhile, the Government will also share 50 per cent of cost increases for construction firms working on critical public sector projects.
But the Government also said it will not reduce petrol or diesel duties.
Senior Minister of State for Finance Jeffrey Siow explained that as an open economy, Singapore must allow fuel prices to reflect market realities.
He said: "If prices are artificially suppressed, importers may choose to divert fuel where prices are higher, and over time, this can tighten supply and leave us worse off."
In a subsequent clarification to the ministerial statements, Minister of State for Trade and Industry Gan Siow Huang said the Government's approach is to ensure that the market remains competitive, adding that there is presently no evidence to suggest that the market structure is not competitive.
However, she stressed that the Competition Commission of Singapore will continue to watch pump prices to ensure that fuel companies here do not engage in anti-competitive behaviour.
Pump prices for diesel and petrol have risen steadily over the past month.
The posted prices for diesel ranged between $2.74 and $2.88 on March 6. As of April 7, prices have crept up to between $4.62 and $4.68.
Meanwhile, prices for the more popular 95-octane petrol has risen from between $2.97 and $3.05 on March 6, to between $3.46 and $3.47 on April 7.
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