Lower-octane petrols in Singapore back up to $3 level

SINGAPORE - Two weeks after they fell below $3, prices of 92- and 95-octane petrols have rebounded on the back of higher crude oil prices.

With three- to four-cent increases initiated first by Caltex on April 13, Shell on April 15 and Esso on April 18, 92-octane petrol is now $3 a litre at Caltex and Esso, while remaining unchanged at $2.95 at SPC.

Shell and Sinopec do not offer this grade.

According to the Consumers Association of Singapore-initiated pump price tracker Fuel Kaki, the popular 95-octane fuel is now $3.04 at Caltex and Esso, $3.05 at Shell, while remaining unchanged at $3 at Sinopec and $2.99 at SPC.

And 98-octane is $3.51 at Esso, $3.54 at Shell and unchanged at $3.47 at Sinopec and SPC.

The so-called premium petrols, which are also 98-octane, are $3.70 at Caltex, $3.76 at Shell and $3.60 at Sinopec.

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Diesel is $2.72 at Sinopec and $2.73 at SPC — both unchanged from two weeks ago.

The fuel rose by five cents a litre at Caltex to $2.78 and Shell to $2.86.

At Esso, it climbed by nine cents a litre to $2.82.

Among operators with a sizeable station network, Caltex has the lowest discounted rates for 92-octane fuel at $2.43 a litre and 95-octane fuel at $2.46 a litre (with OCBC Voyage card).

Sinopec's 95-grade is $2.35 a litre, but it has only three stations.

For 98-octane, Esso has the lowest offer of $2.88 (with DBS Esso card) among operators with a sizeable network, while Sinopec retails the fuel at $2.73 a litre at its three stations (with OCBC cards).

SPC offers the cheapest diesel among big players at $2.18 (with a variety of cards), while Sinopec retails it a $2.12 a litre.

The benchmark Brent crude hovered above US$111 a barrel in early trading on April 18 — up from as low as US$104 two weeks ago — as the Russia-Ukraine crisis deepens.

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This article was first published in The Straits Times. Permission required for reproduction.