Pump prices in S'pore rise amid widening Middle East conflict

CASE urges fuel companies to exercise restraint in raising prices pre-emptively

- Annabelle Liang Correspondent and Rosalind Ang

Prices of petrol have climbed as the conflict in the Middle East, which has shut a crucial channel for oil supplies, escalates with no end in sight.

SPC raised its posted price of the popular 95-octane fuel by four cents from $2.87 to $2.91 at 3pm on March 4, becoming the latest operator to adjust pump prices.

Shell was the first to raise its posted price of 95-octane fuel, also by four cents, to $2.92 per litre on the morning of March 3.

Caltex increased its prices to match Shell's past midday, a move that was followed closely by Esso. Sinopec backed the trend hours later.

A Shell spokesperson declined to comment on why it has raised the prices of its fuel and diesel.

What motorists actually pay at the pump may differ from posted prices, which do not factor in discounts.

SPC raised the price of its 92-octane petrol by four cents to $2.88, bringing its price to the same level as Esso and Caltex. Shell and Sinopec do not offer 92-octane petrol. SPC also raised its regular 98-octane petrol by four cents to $3.42, on a par with Esso and Sinopec, with the priciest being at Shell at $3.44.

The so-called premium 98-octane option ranges from $3.55 at Sinopec to $3.66 at Shell.

Commercial fleet owners and taxi drivers were not spared, with diesel pump prices rising in tandem. The highest posted price is $2.70 at Shell, Esso and Caltex, with the lowest at $2.61 at SPC.