Caltex raises pump prices in Singapore, Shell fuels remain costliest

SINGAPORE – Oil giant Caltex has raised fuel prices, bringing its posted rates up to five cents a litre higher than those of other pump operators. But after discounts, Shell’s prices remain the highest for all but its so-called premium 98-octane.

Before discounts, the popular 95-octane petrol is now $2.79 a litre at Caltex, $2.76 at Shell, $2.75 at Esso and Sinopec, and $2.74 at SPC. The 92-octane grade is $2.74 at Caltex, and $2.70 at Esso and SPC. Shell and Sinopec do not offer this grade.

The 98-octane grade is $3.25 at Shell and $3.22 elsewhere. And the so-called premium 98-octane grade is $3.45 at Caltex, $3.35 at Sinopec, and $3.25 at Shell, which is currently selling it at a promotional price pegged to its regular 98-octane fuel.

Meanwhile, diesel is costliest at Caltex at $2.40 a litre, followed by Shell at $2.37, Esso and SPC at $2.36, and Sinopec at $2.35.

After discounts, the price of 95-octane fuel ranges from $2.16 at Sinopec to an average of $2.35 at Shell. The cost of 92-octane petrol ranges from an average of $2.28 at Esso to $2.30 at SPC. The price of regular 98-octane grade ranges from $2.53 at Sinopec to an average of $2.76 at Shell.

For diesel, discounted rates range from $1.83 at Sinopec to $2.03 at Shell. For the so-called premium 98-octane fuel, the price ranges from $2.61 at Sinopec to $2.89 at Caltex.

According to fuel pump price tracker Fuel Kaki – an initiative of the Consumers Association of Singapore – Caltex raised its posted prices on Thursday, while Shell brought the price of its so-called premium 98-octane petrol down to the same level as its regular 98-octane fuel on Friday.

The other three players have not changed their posted rates for over a month now.

The latest price increase by Caltex comes on the back of

lower oil prices.

The benchmark Brent crude fell from US$87.50 a barrel in mid-April to as low as US$71.50 in mid-June, before recovering to US$76.60 early on Friday.