SINGAPORE - After a series of reductions, pump prices are on the way up again, with Caltex making the first move by raising diesel price by seven cents a litre and petrol prices by three cents on Wednesday (Aug 24) afternoon.
It was followed by Shell later in the day. The changes come about two weeks after the last round of reductions.
According to Fuel Kaki, a pump price tracker set up by the Consumers Association of Singapore, diesel at the two operators is now $2.89 a litre, against $2.80 at Sinopec and SPC, and $2.81 at Esso.
A litre of 92-octane is $2.83 at Caltex and $2.80 at Esso and SPC. Both Shell and Sinopec do not offer 92-octane.
The popular 95-octane is $2.88 at Caltex and Shell, while Esso and Sinopec are still dispensing it at $2.85 a litre, and SPC is selling it at $2.84.
The 98-octane grade, used by a minority of vehicles here, is $3.37 at Shell, and $3.32 elsewhere. And the so-called premium 98-octane grade is $3.54 at Caltex, $3.59 at Shell and $3.45 at Sinopec.
The price rises come on the back of fears of an oil production cut by Organisation of the Petroleum Exporting Countries. The benchmark Brent crude is now heading back towards US$100 a barrel, although RBOB gasoline - a proxy for wholesale petrol - remains relatively depressed at US$2.92 a gallon.