Petrol prices in Singapore have climbed back to their record highs after retailers Caltex, Shell and SPC hiked rates amid ongoing tension in the Middle East.
Caltex and SPC on Thursday each raised RON95 prices by 1.46% to SGD3.47 (US$2.70) and SGD3.46, respectively, according to fuel data platform Motorist.sg.
Vehicles drive at an intersection in the Chinatown district of Singapore on Oct. 7, 2024. Photo by AFP |
On Friday Caltex diesel prices added 4.7% to SGD4.43, while Sinopec hiked its rates by 7.6% to SGD4.23.
The adjustments extend the recent run-up in diesel prices and end a brief reprieve for petrol users that lasted nine days. Overall, pump prices have been trending upward since March 4.
In a video message released on Thursday, Prime Minister Lawrence Wong acknowledged the strain on households and businesses amid rising energy costs and ongoing uncertainties, according to AsiaOne.
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Diesel prices in Singapore by retailer, as of April 3, 2026. Chart by Motorist.sg |
He said the government will “cushion the immediate impact” by enhancing existing measures and accelerating some initiatives to deliver earlier relief.
He added that targeted support will also be extended to sectors most affected. Details of the measures will be announced when Parliament reconvenes on April 7.
U.S. oil prices settled more than 11% higher and Brent soared nearly 8% on Thursday in volatile trading, as traders worried about prolonged disruptions to oil supply the day after President Donald Trump said the United States would continue attacks on Iran, Reuters reported.
“The real question on traders’ minds is that if Iran’s oil infrastructure is possibly now at risk, and with more damage in the area now very likely, even if left intact the restart of oil flows in the region is now looking to be delayed further,” said Dennis Kissler, senior vice president of trading at BOK Financial.
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