Shell, Caltex raise pump prices in Singapore
Oil giants Shell and Caltex have raised fuel prices, bringing their posted rates up to five cents a litre higher than that of the other pump operators.
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 sold 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.
Both Shell and Caltex have been adjusting prices in the last two months, while the other three players have not changed their posted rates for about a month now.
The price increases at Shell and Caltex come on the back of lower oil prices. The benchmark Brent crude is now around US$76 (S$103) a barrel, down from the year’s high of US$89 a barrel in February.
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 (with DBS Esso card) 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.
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