Petrol prices in Singapore slip following Esso's price drop
Petrol retailers here in Singapore have dropped the prices of petrol and diesel following Esso's lead in dropping fuel prices on Aug 10, 2022.
PHOTO: Facebook/Sinopec Singapore
PUBLISHED ONAugust 12, 2022 9:26 AM
Fuel prices have taken a dive following the National Day holidays, following a decline in global crude prices.
At the time of publishing, 95-octane fuel – the most popular grade here in Singapore – retails at $2.85 per litre across all brands, with SPC being the sole firm retailing its 95-octane petrol at $2.84 per litre.
98-octane petrol meanwhile retails at $3.32 per litre across all brands that carry the fuel, except for Shell, which charges $3.34 per litre.
For comparison, 95-octane petrol hovered at close to $2.94 a litre across the brands at the start of Aug 2022, while 98-octane petrol retailed at $3.41 per litre at brands including Esso, Sinopec, and SPC.
Sgcarmart understands that Esso was the first firm to begin dropping prices from Aug 10, 2022. Pump prices here have been steadily dropping since July, with 95-octane petrol first dipping below the $3.00 per litre mark since July 15, 2022.
The news also comes just a month after the Competition and Consumer Commission of Singapore reiterated that it would take enforcement action against anti-competitive behaviour among fuel retailers here in Singapore amidst the then rising petrol prices.