SINGAPORE, Oct 22 — Motorists in Singapore saw a second consecutive day of pump price hikes after Shell on Thursday (October 22) matched Caltex’s Wednesday increase.
The latest adjustments also mark the first fuel price hikes in consecutive weeks since September 14, when rates rose again after more than two months.
AsiaOne observed that until this week, price hikes had been posted every alternate week.
In a price board update published at 10am, London-headquartered Shell announced a three-cent increase across its 95-octane, 98-octane and V-Power petrol grades.
Like Caltex, Shell also kept the price of its diesel unchanged.
Following the latest round of posted adjustments, the price of the more popular 95-octane petrol at major fuel companies here now ranges from S$3.56 (RM11.38) per litre at SPC to S$3.60 per litre at Caltex and Shell.
Meanwhile, Cnergy and Smart Energy are still offering the petrol grade at S$2.69 per litre and S$2.62 per litre respectively.
During the recent rounds of hikes, Caltex, Esso and Shell were the first to raise prices, followed by Sinopec and then SPC.
Across the Causeway, Government-controlled prices for unsubsidised Ron95, Ron97 and diesel fell for a second consecutive week due to expectations of increased fuel supplies from China, supported by exports from other Asian countries such as South Korea.
Oil prices rose on Thursday as fresh Houthi attacks in Saudi Arabia prompted the US to order some diplomats and family members to leave its missions in the Kingdom.
At 8.34am (Singapore time), Brent crude futures rose US$1.29 (S$1.65), or 1.2 per cent, to US$110.01 a barrel, while US West Texas Intermediate crude gained 97 cents, or one per cent, to US$98.12. — AsiaOne
