Singapore motorists are facing another increase in petrol prices after Shell raised its pump rates on Sept. 29, with the latest adjustment coming as global energy markets remain sensitive to disruptions linked to the Middle East conflict.
Shell increased its 95-octane, 98-octane and premium petrol prices by 5 cents per litre. Its diesel price remained unchanged at S$4.07 per litre. The adjustment came after more than a week of price stability following a series of increases earlier in September.
The latest move pushed Shell’s posted price for 95-octane petrol to S$3.54 per litre, while 98-octane rose to S$4.06 and premium petrol to S$4.28 before discounts. Caltex followed later the same day with a 5-cent increase across its petrol grades, while leaving diesel unchanged.
As of Sept. 30, 95-octane petrol was priced between S$2.54 and S$3.54 per litre across the retailers tracked, with lower prices offered by independent operators. Diesel ranged from S$2.69 to S$4.07 per litre before discounts.
The latest increases come after a sharp run-up in Singapore fuel prices earlier this month. Between Sept. 14 and Sept. 20, major fuel companies raised prices repeatedly, with some retailers increasing petrol and diesel rates on several consecutive days.
Global oil prices have remained elevated because of concerns over supply disruptions linked to the conflict involving the United States, Israel and Iran. Brent crude rose above US$106 a barrel earlier on Sept. 29 before retreating to settle at US$102.59.
Although crude exports from parts of the Middle East have begun recovering, uncertainty over supply routes and the broader geopolitical situation continues to influence oil markets. Reuters reported that Middle Eastern crude exports in September reached their highest level since the conflict began, but Brent was still on track for a monthly gain of about 13%.
For Singapore consumers and businesses, higher fuel costs can also feed into transportation and logistics expenses. Diesel is particularly important for commercial vehicles, delivery operations and other parts of the supply chain, making sustained price increases a potential source of wider cost pressure.
The latest Shell and Caltex adjustments show that Singapore pump prices remain closely tied to developments in global refined-fuel and crude-oil markets, even as signs of recovering Middle Eastern exports provide some relief to supply concerns.
