Caltex lowers rates, Shell and Sinopec raise prices in latest round of pump price changes

Caltex (left) fuels are now two cents lower than they were on Jan 21, while Sinopec raised its 98-octane by two cents to $3.15 and so-called premium grade by three cents to $3.28.

SINGAPORE - Caltex has reduced its pump prices while Shell and Sinopec have increased rates in the latest round of adjustments tracked by the Consumers Association of Singapore (Case).

According to Fuel Kaki, Case's online pump price comparison portal, Caltex fuels are now two cents lower than they were last Friday (Jan 21).

Its 92- and 95-octane petrols are now $2.65 and $2.69 a litre before discount, while its so-called premium grade is $3.32 a litre and its diesel is $2.23 a litre.

Sinopec, the newest player from China, which is said to source its fuels from Shell, lowered the price of its 95-octane petrol by one cent to $2.68 a litre, but raised its 98-octane by two cents to $3.15 and so-called premium grade by three cents to $3.28.

By late-afternoon on Monday, Shell had raised its diesel price by four cents and its petrol prices by between one and three cents.

The latest changes followed adjustments last week that saw most published pump prices going up by two to seven cents, but Shell's dipping by one cent.

As a result of the latest tweaks, discounted rates have also moved.

Sinopec, which has only three stations here, still dispenses the cheapest 95-octane fuel at $2.10 a litre - from $2.08 last week - while the next lowest price for the popular petrol is $2.18 a litre at Caltex if paid by the OCBC Voyage card, from $2.20 last week.

The rates for other credit cards range from $2.21 to $2.31 - the same range which Esso charges for the fuel.

The priciest 95-octane is at Shell, which is retailing it at $2.42 a litre if payments are made by the UOB One card. With most other major credit cards, Shell's 95 grade is $2.31 a litre.

SPC charges a flat $2.25 a litre for 95-octane fuel after credit card discounts.

Pump prices have been rising steadily since mid-2020 as demand for oil products rises in tandem with world economies emerging from the Covid-19 pandemic.

Since then, the most popular 95-octane fuel has risen by 50 cents a litre.

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