SINGAPORE — Petrol and diesel pump prices have slipped back down to levels seen before the latest goods and services tax increase on Jan 1 despite rising global oil prices.
Ironically, China is also seen to be exporting more refined products, which could depress the wholesale prices of diesel and petrol in Singapore. According to Fuel Kaki — a pump price tracker set up by the Consumers Association of Singapore — Caltex, Shell and SPC lowered posted pump rates just before the Chinese New Year weekend, with cuts of between three cents and five cents a litre.
Diesel is now $2.63 a litre at Sinopec and $2.64 elsewhere. For petrols, the 92-octane grade is now $2.65 a litre at Caltex, Esso and SPC — the only brands offering the grade. The popular 95-octane grade is $2.69 at SPC and $2.70 elsewhere.
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