Fuel prices up in S’pore as Mid-East conflict pushes diesel past $4 per litre at major retailers

SINGAPORE – Pump prices in Singapore at the major retailers rose by between eight and 12 cents a litre on Sept 14, ending a two-month period of relative stability as the escalating conflict in the Middle East impacted global energy markets.

The latest hike pushed diesel fuel, used mainly by commercial vehicles and buses, past the $4 per litre mark across major brands for the first time since late June. Caltex now charges $4.07 a litre while diesel from Shell and Esso is priced at $4.03 a litre.

Based on data in the Consumers Association of Singapore’s Price Kaki app at 8pm, Shell was the first to raise its prices – at noon on Sept 14. Caltex increased its rates four hours later, followed by Esso at 7pm.

Sinopec and SPC had not followed suit as of Monday evening, with their 95-octane petrol prices up to 13 cents a litre lower than those of the major brands.

After the hike, 95-octane petrol, used by the majority of passenger cars, costs $3.45 a litre at Shell and Esso, and $3.49 at Caltex. It costs $3.37 per litre at Sinopec, while SPC charges $3.36.

The 98-octane fuel costs $3.97 a litre at Esso and Shell, while Sinopec and SPC charge $3.88. Caltex does not offer this grade.

As for premium grade petrol, Caltex and Shell price theirs at $4.19 a litre after the latest adjustment. At Sinopec, it costs $4.01. The other brands do not offer this grade of fuel.

A litre of 92-octane petrol is now priced at $3.46 at Caltex, $3.42 at Esso and $3.34 at SPC. Shell and Sinopec do not offer this grade of fuel at their stations.

Before the latest adjustment, Shell, Esso and Caltex had priced their 95-octane petrol at $3.37 a litre, while 98-octane petrol cost $3.89 a litre at Shell and Esso.

All prices quoted are before applicable loyalty and credit card discounts.

Lee Nian Tjoe is senior transport correspondent at The Straits Times, where he also oversees the Motoring section.