Caltex, Shell raise pump prices

After a series of reductions, pump prices are on the way up again, with Caltex making the first move by raising the diesel price by seven cents a litre and petrol prices by three cents yesterday afternoon.

It was followed by Shell later in the day. The changes came two weeks after the last round of cuts.

According to Fuel Kaki, a pump price tracker set up by the Consumers Association of Singapore, diesel price 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 petrol 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 petrol 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 the 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.