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Fuel prices in Singapore rise for 4th time in 6 days as SPC catches up with hike

All major fuel companies in Singapore have now raised their pump prices at least once this week.This, as Chinese state-owned SPC on Saturday (Sept 19), followed upward adjustments posted by Caltex, Esso, Shell and Sinopec earlier this week.In a price board update at 11am on Saturday, SPC announced a 12-cent hike across its petrol types, while increasing its diesel price...

AsiaOne Singapore查看原文 ↗
Fuel prices in Singapore rise for 4th time in 6 days as SPC catches up with hike
Fuel prices in Singapore rise for 4th time in 6 days as SPC catches up with hike

All major fuel companies in Singapore have now raised their pump prices at least once this week.

This, as Chinese state-owned SPC on Saturday (Sept 19), followed upward adjustments posted by Caltex, Esso, Shell and Sinopec earlier this week.

In a price board update at 11am on Saturday, SPC announced a 12-cent hike across its petrol types, while increasing its diesel price by 8 cents.

The increase mirrors that of Esso and Shell , which raised their petrol prices by the same amount.

Following the latest round of price increases, the price of the more popular 95-octane petrol now ranges from $3.45 at Sinopec to $3.49 at Caltex, Esso and Shell.

At $3.48 per litre for its 95-octane petrol, SPC takes the middle ground among the five major fuel companies in Singapore.

Prices are correct as at 12pm on Sept 20. All prices are before discounts.

*Indicates change to posted price(s) made on Sept 19

Oil prices had climbed to around four-month highs this week as sources said crude loadings at Saudi Arabia's Red Sea export hub of Yanbu had been suspended and Riyadh had cancelled some deliveries to Europe after its East-West pipeline was damaged in an attack last week.

Three of the pipeline's pumping stations — one more than assessed previously — were damaged, according to satellite imagery and three industry sources.

A prolonged closure of the pipeline to Yanbu could cut off as much as four per cent of global oil supply, traders have said.

Highlighting uncertainty, JPMorgan said on Thursday it does not have a clear baseline view for oil markets for the first time since the start of the US-Israeli war on Iran.

The US and Iran have held no peace talks since an interim agreement reached in June collapsed within weeks.

The war will come up for discussion at the United Nations General Assembly next week, and an Iranian delegation will be able to attend , according to the US State Department.

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