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Fuel prices fall for third consecutive day as Caltex, Sinopec post adjustments

Caltex dropped its 95-octane and diesel prices, while Sinopec dropped just diesel price
Fuel prices fall for third consecutive day as Caltex, Sinopec post adjustments
Pump prices fell a third consecutive day on Friday (May 22) as both Caltex and Sinopec posted reductions to their respective petrol and diesel prices.
PHOTO: AsiaOne/Fitri Salleh

Pump prices in Singapore fell for a third consecutive day on Friday (May 22) as Caltex posted adjustments to its posted prices for both 95-octane petrol and diesel, while Sinopec dropped only its diesel price.

In a price board update published at 1pm, Chevron-owned Caltex announced a 6-cent reduction to the price of its diesel. It also reduced the price of 95-octane petrol by 1 cent.

This was followed by Sinopec in the evening, with a 6-cent drop in its diesel price, but the Chinese oil and gas enterprise kept petrol prices unchanged.

Caltex's and Sinopec's moves come a day after London-headquartered Shell and Esso both posted adjustments to their respective petrol and diesel prices.

Following the latest round of adjustments, the price of the more popular 95-octane petrol now ranges from $2.64 at Cnergy to $3.46 at Caltex, Esso, Shell and Sinopec. 

Singapore-headquartered SPC occupies the middle ground with its 95-octane petrol priced at $3.42 per litre. 

Meanwhile, the price of diesel now ranges from $3.40 at Cnergy to $4.42 at Caltex, Esso and Shell. 

Company / Fuel92-octane95-octane98-octanePremiumDiesel
Caltex*$3.43$3.46*Not available$4.16$4.42*
Esso$3.43$3.46$3.98Not available$4.42
ShellNot available$3.46$3.98$4.20$4.42
Sinopec*Not available$3.46$3.97$4.10$4.41*
SPC$3.39$3.42$3.93Not available$4.32
CnergyNot available$2.64$3.05Not available$3.40

Prices are correct as at 9pm on May 22. All prices are before discounts.

*Indicates change to posted price(s) on May 22.

Brent oil futures continued to whipsaw in a volatile trading session on Friday, moving lower on reports of Pakistan's interior minister meeting with Iran's foreign minister to discuss proposals to end the war.

US Secretary of State Marco Rubio struck a reconciliatory tone on Thursday, saying there are signs of progress, but he also said that despite the "good signs" in talks, he would not be overly optimistic.

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editor@asiaone.com 

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