PUBLISHED ONOctober 15, 2026 3:15 AMBYSean LerFuel prices in Singapore have been rising with increases posted by Caltex, Shell and Esso since the start of this week. And on Thursday (Oct 15), Chinese state-owned Sinopec followed suit.
At about 9am, Beijing-headquartered Sinopec announced a 3-cent increase to its posted prices for 95- and 98-octane petrol, while keeping diesel prices unchanged.
The move exactly mirrors hikes posted by the Caltex and Shell on Monday, and Esso on Tuesday.
Sinopec's adjustment comes about two weeks after it last raised petrol prices by 5 cents on Oct 1.
Fuel rates in Singapore first rose again on Sept 14 after over two months of unchanged prices.
For every alternate week since, major fuel companies here have raised prices amid global oil supply volatility and rising crude oil prices.
The Chinese company now ties with Caltex, Esso and Shell for the highest posted price of 95-octane petrol in the country, before discounts.
This is a 20-cent increase from its rates on Sept 6.
Following the latest round of price adjustments among major fuel companies here, the more popular 95-octane petrol now ranges from $3.53 at SPC to $3.57 at Caltex, Esso, Shell and Sinopec.
Meanwhile, Cnergy and Smart Energy are still offering the petrol grade at $2.69 and $2.62 respectively.
Across the Causeway, the Malaysia Ministry of Finance on Wednesday evening announced that prices for unsubsidised Ron95 and Ron97 will drop by 5 sen per litre each, while rates for unsubsidised diesel will fall by 10 sen per litre.
Explaining its decision, it pointed out that the supply of refined petroleum products in the regional market improved after China again allowed fuel exports for October, while South Korea continues to supply such products to the regional market.
However, it also cautioned that the escalating conflict in the Middle East, including recent attacks on Saudi Arabia, has increased the risk of supply disruptions amid already high petroleum prices.
| Company / Fuel | 92-octane | 95-octane | 98-octane | Premium | Diesel |
| Caltex | $3.54 | $3.57 | Not available | $4.27 | $4.07 |
| Esso | $3.54 | $3.57 | $4.09 | Not available | $4.07 |
| Shell | Not available | $3.57 | $4.09 | $4.31 | $4.07 |
| Sinopec* | Not available | $3.57* | $4.08* | $4.21* | $4.01 |
| SPC | $3.51 | $3.53 | $4.05 | Not available | $3.97 |
| Cnergy | Not available | $2.69 | $2.95 | Not available | $3.00 |
| Smart Energy | Not available | $2.62 | $2.99 | Not available | $2.69 |
Prices are correct as at 10.45am on Oct 15. All prices are before discounts. *Indicates change to posted price(s) made on Oct 14. | |||||
Oil prices edged higher on Wednesday after an attack on Saudi Arabia's state-owned oil company Aramco, with Brent crude futures rising to US$105.83 (S$135) a barrel at 5.38pm (Singapore time).
"Attacks on ships crossing the Strait of Hormuz and military strikes between Saudi Arabia and the Houthis are supporting prices as market participants remain concerned about lower oil exports from the region," said UBS analyst Giovanni Staunovo, adding that exports have held up so far.
Meanwhile, a Singapore-registered container ship sank in waters south of the Strait of Hormuz on Oct 13, while another container ship was damaged on Oct 14.
"The expectation that increased Russian diesel exports will ease market tightness is likely to limit sharp price movement in either direction," said Hiroyuki Kikukawa, chief strategist at Nissan Securities Investment.
The IEA also said that a lack of operational Russian refinery capacity meant that the recently announced easing of Russian diesel export restrictions was unlikely to bring any material change to the global gasoil market balance.
Constrained diesel supplies could persist well into next year, the IEA also said.
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