All petrol, diesel prices in Singapore rise to match increases by Caltex, Shell

All fuel pump prices here have gone up, after Shell and Caltex raised diesel by seven cents and petrol by three cents a liter on Wednesday (Aug 24).

On Monday (Aug 29) afternoon, SPC became the last of the five brands here to adjust its posted prices upwards, after Esso and Sinopec did so on Friday.

At the pumps, diesel is now between $2.87 (Sinopec) and $2.89 (Shell, Caltex), according to pump price tracker Fuel Kaki, an initiative by the Consumers Association of Singapore.

A liter of 92-octane petrol, which can be used by the majority of cars here, is now $2.83 at Caltex, Esso and SPC. Shell and Sinopec do not offer this grade.

The popular 95-octane petrol is now $2.87 at SPC and Sinopec, and $2.88 elsewhere, while 98-octane, necessary for only a minority of vehicles here, is $3.37 at Shell and $3.35 elsewhere.

The premium grade of 98-octane is $3.48 at Sinopec, $3.54 at Caltex and $3.59 at Shell.

The adjustments follow a rise in crude oil prices. The benchmark Brent crude has been on the uptrend since mid-August, breaching US$100 (S$140) a barrel for the first time on Friday since beginning of the month.

Refined products, however, still seem depressed, with RBOB gasoline, a proxy for wholesale petrol, last traded at US$2.85 a gallon; one of the lowest prices since March.

After discounts, fuel prices vary. For 92-octane petrol, both Esso and Caltex have the lowest offer of $2.32 a liter, with DBS Esso card and OCBC 365 card respectively.

For 95-octane, Sinopec’s offer of $2.25 (OCBC cards) is the lowest, but it has only three stations. Among brands with sizeable networks, Caltex and Esso again have the lowest rate of $2.36, with OCBC 365 card and DBS Esso card respectively.

For 98-octane, Sinopec once more has the lowest rate of $2.63 a liter. Among the others, Esso has the lowest offer of $2.75 (DBS Esso card).

SOURCE: NEWS AGENCIES