SPC, Sinopec, and Esso have raised their pump prices to match the price hike made by Shell and Caltex on 24 August 2022.
Customers that head on down to Lee Sheng Auto Pte Ltd and purchase servicing packages worth $98 and above will walk away with a free wireless charger!
Singapore's pump operators have taken turns over the last 3 weeks to increase their prices, with speculation that 95-Octane could hit $3/litre by 2022.
Petrol prices in Singapore have fallen by up to $0.05 a litre on 29 April 2020, a week after crude oil plunged to record lows.
Fuel pump prices in Singapore continues to remain unchanged since 25 March, despite a recent sharp plunge in global crude oil prices.
ExxonMobil cut pump prices by $0.03 on 11 March 2020, its second reduction since the plunge in crude oil prices on 9 March 2020.
With crude oil prices easing, retailers have reverted to the rates prior to the assassination of Iranian military leader Qassem Soleimani.
Many transport companies are unable to pass on the cost savings from the falling price of oil, due to rising operating costs such as labour and rent.
Following the drop in crude oil prices, pump prices and electricity tariffs have taken a dip over the past few weeks to reflect market conditions.