Friday's cut - the third in a week - brought prices of petrol and diesel down by five cents a litre.
The latest reduction was triggered by Shell at 10am. Caltex and Singapore Petroleum Co followed suit at 11am.
With the adjustment, a litre of 92, 95 and 98-octane petrol is now $1.653, $1.686 and $1.76 respectively before discount - levels not seen since first half of 2007.
So-called ultra-premium petrols Shell V-Power is now priced at $1.889 a litre, while Caltex Platinum is $1.886 a litre. Diesel, the fuel for taxis and transport companies, is now $1.433 a litre. Likewise, rates are before discount.
The latest round of cuts is the 13th since pump prices peaked in July, and reflects the sharp fall in crude oil prices.
Light sweet crude for December delivery sank by US$4.53 on Thursday to close at US$60.77 a barrel on the New York Mercantile Exhange - the lowest level since March 2007.
