PUBLISHED ONJuly 03, 2026 8:32 AMUPDATEDJuly 03, 2026 12:56 PMBYSean LerMotorists in Singapore can heave a sigh of relief heading into the weekend, with most fuel companies here having reduced their prices twice this week.
Following a second round of Shell-led reductions on Thursday (July 2), Esso on Friday announced a 5-cent reduction across its petrol offerings, while dropping its diesel price by 7 cents.
The move brings its diesel price, now set at $4.05 per litre, on par with Caltex, Shell and SPC.
On the same afternoon, SPC dropped prices for its 92-octane and 98-octane petrol by 5 cents each, while posting a 6-cent reduction for the price of its 95-octane petrol.
This brings the price of the more popular 95-octane petrol to range from $2.59 at Cnergy to $3.37 at Caltex, Esso, Shell and Sinopec.
SPC's price of $3.36 for its 95-octane petrol is the lowest among major fuel companies here.
The subsidiary of Chinese state-owned company PetroChina also offered a seven-day We Support NS fuel discount campaign in conjunction with SAF Day on July 1.
| Company / Fuel | 92-octane | 95-octane | 98-octane | Premium | Diesel |
| Caltex | $3.34 | $3.37 | Not available | $4.07 | $4.05 |
| Esso* | $3.34* | $3.37* | $3.89* | Not available | $4.05* |
| Shell | Not available | $3.37 | $3.89 | $4.11 | $4.05 |
| Sinopec | Not available | $3.37 | $3.88 | $4.01 | $4.04 |
| SPC* | $3.34* | $3.36* | $3.88* | Not available | $4.05 |
| Cnergy | Not available | $2.59 | $3.00 | Not available | $3.08 |
| Smart Energy | Not available | $2.62 | $2.99 | Not available | $2.58 |
Prices are correct as at 7.25pm on July 3. All prices are before discounts. *Indicates change to posted price(s) made on July 3. | |||||
Brent oil futures climbed to US$71.87 a barrel as of 3.37pm on Friday, as the US heads into a long weekend for its 250th anniversary celebrations, and Iran prepares to bury its slain former supreme leader.
During the prior session on Thursday, both the Brent and West Texas Intermediate benchmarks hit their lowest levels before the US-Israeli war on Iran began.
This comes amid reports of shipping resumption through the Strait of Hormuz, as called for under the initial deal between the US and Iran.
Gulf producers have reportedly been working to increase output too.
UBS analyst Giovanni Staunovo was reported by Reuters as saying that previously stranded ships which have now become available are creating a temporary wave of new supply. But he would not commit that the market had priced out a risk premium, reflecting continued cautiousness.
Iranian officials have said the two sides must still sort out terms of a ceasefire they signed two weeks ago before they can tackle more difficult topics.
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