Fuel pump prices in Singapore rise again, by two to seven cents

The rates for 98-octane are between $3.13 (Sinopec) and $3.18 (Shell). ST PHOTO: LIM YAOHUI

SINGAPORE - Most oil companies have raised fuel pump prices by two to seven cents from October, in line with rising oil prices as world economies continue to emerge from the Covid-19 pandemic. 

But surprisingly, Shell adjusted its rates on Friday (Jan 21) evening by lowering posted prices by one cent across the board.

China-owned SPC, which had long resisted raising its posted rates, jacked up prices by seven cents across all its fuels.

SPC's 92-, 95- and 98-octane petrols are now $2.62, $2.65 and $3.13 a litre while its diesel is $2.20 a litre, according to rates posted by Fuel Kaki, a pump price tracker set up by the Consumers Association of Singapore.

Caltex and Esso - the two firms which offer 92-octane fuel - are pricing it at $2.67 and $2.65 a litre respectively.

For the popular 95-octane fuel, prices range between $2.66 at Sinopec and $2.71 at Caltex. The rates for 98-octane are between $3.13 at Sinopec and $3.16 at Esso. 

The so-called premium grade petrol is $3.26 at Sinopec, $3.34 at Caltex and $3.40 at Shell.

And diesel is $2.20 at Sinopec, $2.22 at Shell, $2.23 at Esso and $2.25 at Caltex. 

As usual, prices after discount differ widely. For instance, Sinopec's 95-octane petrol is the cheapest at $2.08 after credit card discounts, but its network is the smallest.

Next is Caltex, which charges $2.20 for payments with OCBC Voyage card. The priciest remains Shell, which charges $2.41 for payments with UOB One card. 

Among retailers with sizeable station networks, Caltex offers the cheapest petrol, with its 92-octane priced at $2.16 (OCBC Voyage card), followed by Esso at $2.17 (DBS Esso card).

For those who insist on filling up with 98-octane fuel, which is unnecessary for the vast majority of vehicles, the cheapest is at Sinopec at $2.46 and the priciest is at Shell - $2.84, paid with UOB One card.

The cheapest diesels are at Sinopec at $1.72 and SPC at $1.76, while the costliest are at Caltex at $1.94 and Shell at $2, if paid with UOB One card.

Further price adjustments are likely, as Esso made its latest change late afternoon on Friday, and Shell’s reduction was in the early evening.

Pump prices have been rising steadily since mid-2020, with four increases recorded in October 2021 alone.

Join ST's Telegram channel and get the latest breaking news delivered to you.