Singapore pump costs fall to ranges earlier than GST hike

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A pump attendant fills up gas to a automotive at a petroleum station in Singapore. (PHOTO: Roslan Rahman/AFP by way of Getty Pictures)

SINGAPORE — Regardless of rising oil costs worldwide, petrol and diesel pump costs in Singapore have gone again all the way down to ranges seen earlier than the Items & Companies Tax (GST) hike on 1 January.

In line with Gas Kaki, an internet site arrange by the Customers Affiliation of Singapore to match gas costs, pump operators Caltex, Shell and SPC have lowered charges earlier than the Chinese language New Yr weekend. The cuts had been between 3 and 5 cents per litre.

For petrol, the favored 95-octane grade is now $2.69 a litre at SPC and $2.70 elsewhere. For the 92-octane grade obtainable solely at Caltex, Esso and SPC, the value is now at $2.65.

For the 98-octane gas, it’s $3.22 a litre at Shell and $3.17 elsewhere. There’s additionally the premium grade gas which is $3.39 at Caltex, $3.44 at Shell and $3.30 at Sinopec.

Diesel is $2.63 a litre at Sinopec and $2.64 elsewhere.

INFOGRAPHIC: Fuel Kaki

INFOGRAPHIC: Gas Kaki

Pump costs at lowest ranges since January 2022

The pump operators had raised costs after the GST price hike of 1 share factors to eight per cent on 1 January. The most recent revisions imply that the pump costs are again to their lowest ranges since January 2022.

In line with The Straits Occasions, oil costs are on an uptrend this 12 months, attributable to greater demand from China after the nation lifted most of its COVID-19 restrictions. The benchmark Brent crude final traded at US$86.56 a barrel, its highest since mid-November.

Nevertheless, China is exporting extra refined oil merchandise, which may depress the wholesale costs of diesel and petrol in Singapore.

In line with The Straits Occasions, pump-price variations are better following reductions and promotions. For instance, costs for the 95-octane gas will vary from $2.12 a litre at Sinopec to $2.32 at Esso and Shell with completely different card reductions.

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Yahoo Singapore Telegram

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