Sinopec catches up with Caltex, Esso and Shell on recent fuel hikes, raises petrol prices

Fuel prices in Singapore have been rising with increases posted by Caltex , Shell and Esso since the start of this week. And on Thursday (Oct 15), Chinese state-owned Sinopec followed suit.

At about 9am, Beijing-headquartered Sinopec announced a 3-cent increase to its posted prices for 95- and 98-octane petrol, while keeping diesel prices unchanged.

The move exactly mirrors hikes posted by the Caltex and Shell on Monday, and Esso on Tuesday.

Sinopec's adjustment comes about two weeks after it last raised petrol prices by 5 cents on Oct 1 .

Fuel rates in Singapore first rose again on Sept 14 after over two months of unchanged prices.

For every alternate week since, major fuel companies here have raised prices amid global oil supply volatility and rising crude oil prices.

The Chinese company now ties with Caltex, Esso and Shell for the highest posted price of 95-octane petrol in the country, before discounts.

This is a 20-cent increase from its rates on Sept 6.

Following the latest round of price adjustments among major fuel companies here, the more popular 95-octane petrol now ranges from $3.53 at SPC to $3.57 at Caltex, Esso, Shell and Sinopec.

Meanwhile, Cnergy and Smart Energy are still offering the petrol grade at $2.69 and $2.62 respectively.

Across the Causeway, the Malaysia Ministry of Finance on Wednesday evening announced that prices for unsubsidised Ron95 and Ron97 will drop by 5 sen per litre each , while rates for unsubsidised diesel will fall by 10 sen per litre.

Explaining its decision, it pointed out that the supply of refined petroleum products in the regional market improved after China again allowed fuel exports for October, while South Korea continues to supply such products to the regional market.

However, it also cautioned that the escalating conflict in the Middle East, including recent attacks on Saudi Arabia, has increased the risk of supply disruptions amid already high petroleum prices.

Prices are correct as at 10.45am on Oct 15. All prices are before discounts.

*Indicates change to posted price(s) made on Oct 14.

Rising crude oil prices

Oil prices edged higher on Wednesday after an attack on Saudi Arabia's state-owned oil company Aramco , with Brent crude futures rising to US$105.83 (S$135) a barrel at 5.38pm (Singapore time).

"Attacks on ships crossing the Strait of Hormuz and military strikes between Saudi Arabia and the Houthis are supporting prices as market participants remain concerned about lower oil exports from the region," said UBS analyst Giovanni Staunovo, adding that exports have held up so far.

Meanwhile, a Singapore-registered container ship sank in waters south of the Strait of Hormuz on Oct 13, while another container ship was damaged on Oct 14.

"The expectation that increased Russian diesel exports will ease market tightness is likely to limit sharp price movement in either direction," said Hiroyuki Kikukawa, chief strategist at Nissan Securities Investment.

The IEA also said that a lack of operational Russian refinery capacity meant that the recently announced easing of Russian diesel export restrictions was unlikely to bring any material change to the global gasoil market balance.

Constrained diesel supplies could persist well into next year, the IEA also said.

自本周初以来，新加坡的燃油价格持续上涨，加德士、壳牌和埃索等石油公司均已上调油价。周四（10月15日），中国国有石油公司中石化也跟进提价。

上午9点左右，总部位于北京的中国石化宣布将95号和98号汽油的公布价格上调3美分，而柴油价格保持不变。

这一举动与 Caltex 和 Shell 周一以及 Esso 周二发布的涨价幅度完全一致。

中石化此次调整距离其上次于10月1日将汽油价格上调5美分大约两周。

新加坡燃油价格在经历了两个多月的价格不变后，于9月14日再次上涨。

此后每隔一周，由于全球石油供应波动和原油价格上涨，本地主要燃料公司都会提高油价。

这家中国公司目前与加德士、埃索和壳牌并列为全国95号汽油最高标价（折扣前）。

这比9月6日的价格上涨了20美分。

在本地主要燃油公司最新一轮价格调整之后，更受欢迎的95号汽油价格目前从SPC的每加仑3.53美元到Caltex、Esso、Shell和Sinopec的每加仑3.57美元不等。

与此同时，Cnergy 和 Smart Energy 仍然分别以每加仑 2.69 美元和 2.62 美元的价格提供汽油级汽油。

周三晚间，马来西亚财政部宣布，非补贴汽油 Ron95 和 Ron97 的价格将分别下调 5 仙/升，而非补贴柴油的价格将下调 10 仙/升。

该机构在解释其决定时指出，在中国再次允许10月份燃料出口后，区域市场成品油供应有所改善，而韩国也继续向区域市场供应此类产品。

然而，报告也警告说，中东冲突不断升级，包括最近对沙特阿拉伯的袭击，加剧了石油价格高企背景下的供应中断风险。

价格截至10月15日上午10点45分有效。所有价格均为折扣前价格。

*表示 10 月 14 日公布的价格有所更改。

原油价格上涨

周三，沙特阿拉伯国有石油公司阿美遭到袭击后，油价小幅上涨，布伦特原油期货价格在新加坡时间下午 5 点 38 分升至每桶 105.83 美元（135 新元）。

瑞银分析师乔瓦尼·斯陶诺沃表示：“霍尔木兹海峡船只遇袭事件以及沙特阿拉伯和胡塞武装之间的军事冲突支撑了油价，因为市场参与者仍然担心该地区的石油出口下降。”他还补充说，到目前为止，出口情况依然良好。

与此同时，一艘新加坡注册的集装箱船于 10 月 13 日在霍尔木兹海峡以南水域沉没，另一艘集装箱船于 10 月 14 日受损。

日产证券投资首席策略师菊川博之表示：“预计俄罗斯柴油出口增加将缓解市场紧张局面，这可能会限制价格的剧烈波动。”

国际能源署还表示，由于俄罗斯炼油产能不足，最近宣布放宽俄罗斯柴油出口限制不太可能对全球柴油市场平衡产生任何实质性影响。

国际能源署还表示，柴油供应紧张的局面可能会持续到明年。