Pump prices here yet to reflect plunge in crude oil rates

According to Fuel Kaki, the popular 95-octane grade is $2.24 a litre across all brands before discount.
According to Fuel Kaki, the popular 95-octane grade is $2.24 a litre across all brands before discount.PHOTO: ST FILE

Pump prices here have yet to reflect the plunge in crude oil rates, with petrol retailing about 6 per cent lower than in January, while Brent crude has fallen by more than 40 per cent in the same timeframe.

According to Fuel Kaki, an online price comparison site started by the Consumers Association of Singapore, the popular 95-octane grade is between $2.21 and $2.24 a litre before discount. This is between 4.7 per cent and 6 per cent lower than it was in mid-January.

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A version of this article appeared in the print edition of The Straits Times on March 10, 2020, with the headline 'Pump prices here yet to reflect plunge in crude oil rates'. Subscribe