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Shell leads pump price adjustment on 3rd consecutive day of fuel price hikes

As of 2pm on Wednesday (March 18), diesel is now priced at $3.63 per litre at Shell — the highest among major fuel companies in Singapore
Shell leads pump price adjustment on 3rd consecutive day of fuel price hikes
Shell kicked off a third consecutive day of pump price adjustments on Wednesday (March 18), raising its posted price for diesel by 7 cents, to $3.63.
PHOTO: AsiaOne/Danial Zahrin

Pump prices in Singapore rose for a third consecutive day this week as Shell again started a new round of price adjustments on Wednesday (March 18).

In a price board update published at 1pm, Shell announced that it has raised its posted price for diesel by 7 cents — two days after it raised its posted prices for 95- and 98-octane, V-Power as well as diesel — also by 7 cents each. 

But Shell has held prices steady for its 95- and 98-octane petrol, and the premium V-Power in this latest round of price adjustments.

Sinopec and SPC on Tuesday raised their respective pump prices, following price adjustments by a trio of fuel companies — Shell, Esso and Caltex — on Monday.

Company / Fuel92-octane95-octane98-octanePremiumDiesel
Caltex$3.43$3.47Not available$4.16$3.56
Esso$3.43$3.47$3.97Not available$3.56
ShellNot available$3.47$3.99$4.21$3.63*
SinopecNot available$3.47$3.97$4.10$3.55
SPC$3.43$3.46$3.97Not available$3.49
CnergyNot available$2.41$2.75Not available$2.80

Prices are correct as at 2pm on March 18. All prices are before discounts.

*Indicates change to posted price on March 18

Oil prices fell on Wednesday morning, with the Brent benchmark dropping to about US$101 (S$129).

This comes as White House economic adviser Kevin Hassett told CNBC on Tuesday that oil tankers are starting to move through the Strait of Hormuz again. 

"Already you're seeing tankers are starting to dribble through the straits, and I think it's a sign of how little Iran has left.

"We are very optimistic that this is going to be over in the short tun, and then there will be price repercussions when it is over for a few weeks, as the ships make it to the refineries," Hassett said.

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editor@asiaone.com 

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