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Fuel prices in Singapore rise for 4th time in 6 days as SPC catches up with hike

Following the latest round of increase, the price of the more popular 95-octane petrol ranges from $3.45 at Sinopec to $3.49 at Caltex, Esso and Shell
Fuel prices in Singapore rise for 4th time in 6 days as SPC catches up with hike
SPC on Saturday (Sept 19) raised prices across its petrol and diesel offerings, mirroring moves by four other major fuel companies in Singapore posted earlier this week.
PHOTO: AsiaOne/Fitri Salleh

All major fuel companies in Singapore have now raised their pump prices at least once this week.

This, as Chinese state-owned SPC on Saturday (Sept 19), followed upward adjustments posted by Caltex, Esso, Shell and Sinopec earlier this week.

In a price board update at 11am on Saturday, SPC announced a 12-cent hike across its petrol types, while increasing its diesel price by 8 cents.

The increase mirrors that of Esso and Shell, which raised their petrol prices by the same amount. 

Then, on Sunday afternoon, Sinopec raised prices across all its fuel offerings by 12 cents. 

Following the latest round of price increases, the price of the more popular 95-octane petrol now ranges from $3.48 at SPC to $3.49 at Caltex, Esso, Shell and Sinopec.

Company / Fuel92-octane95-octane98-octanePremiumDiesel
Caltex$3.46$3.49Not available$4.19$4.07
Esso$3.46$3.49$4.01Not available$4.07
ShellNot available$3.49$4.01$4.23$4.07
Sinopec*Not available$3.49*$4.00*$4.13*$4.01
SPC*$3.36*$3.48*$4.00*Not available$3.97*
CnergyNot available$2.54$2.80Not available$3.00
Smart EnergyNot available$2.62$2.99Not available$2.69

Prices are correct as at 9.30pm on Sept 20. All prices are before discounts.

*Indicates change to posted price(s) made on Sept 19 and Sept 20

Oil prices had climbed to around four-month highs this week as sources said crude loadings at Saudi Arabia's Red Sea export hub of Yanbu had been suspended and Riyadh had cancelled some deliveries to Europe after its East-West pipeline was damaged in an attack last week.

Three of the pipeline's pumping stations — one more than assessed previously — were damaged, according to satellite imagery and three industry sources.

A prolonged closure of the pipeline to Yanbu could cut off as much as four per cent of global oil supply, traders have said.

Highlighting uncertainty, JPMorgan said on Thursday it does not have a clear baseline view for oil markets for the first time since the start of the US-Israeli war on Iran.

The US and Iran have held no peace talks since an interim agreement reached in June collapsed within weeks.

The war will come up for discussion at the United Nations General Assembly next week, and an Iranian delegation will be able to attend, according to the US State Department.

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editor@asiaone.com 

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