Most fuel pump prices post second rise in a week

Jul 17, 2023

SINGAPORE - Pump prices are up again, just a week after an across-the-board increase.

According to Fuel Kaki, a pump price tracker set up by the Consumers Association of Singapore, diesel chalked up the sharpest rise, with posted rates climbing by up to 10 cents a litre. This fuel is now priced between $2.44 (Sinopec) and $2.53 (Caltex and Shell) before discount.

Petrol prices have risen by three cents across all brands except SPC, which has not changed its posted rates. The 92-octane fuel is now between $2.76 (SPC) and $2.83 a litre (Caltex), while the popular 95-octane ranges from $2.80 (SPC) to $2.88 (Caltex and Shell).

The regular 98-octane petrol is between $3.28 (SPC) and $3.37 (Shell), while the so-called premium 98-octane petrol is between $3.37 (Shell) and $3.54 (Caltex). Shell has brought down the price of the higher grade by 19 cents to be on a par with its regular 98-octane.

The latest round of increases came on the back of stable oil prices. The benchmark Brent crude fell from US$86 a barrel on July 28 to as low as US$82.40 on Thursday before recovering to US$85.70 in early trade on Friday.

The adjustments have meanwhile resulted in a widening gap between the least and most expensive fuels.

For 95-octane, Shell has the highest average price of $2.46 after discount, while Sinopec has the lowest price of $2.23 – a 23-cent difference.

The cheapest 98-octane is $2.60 a litre (Sinopec), while the costliest is $2.97 (Caltex) – a 37-cent difference.

The 92-octane fuels are priced more closely, with the lowest of $2.35 at SPC, and an average of $2.37 at Caltex.

For diesel, the lowest post-discount price is $1.90 (Sinopec) while the highest average is $2.16 (Shell) – a 26-cent gap.

For an average car, a 20-cent difference in fuel price translates to $330 over a year.

Join ST's WhatsApp Channel and get the latest news and must-reads.

Read 3 articles and stand to win rewards

Spin the wheel now