Singaporean motorists face increased fuel costs following price adjustments implemented by Shell on Monday, March 16. The company’s 98-octane petrol is now priced at just one cent below $4 per litre.
Price Hikes Follow Calls for Transparency
This move by Shell comes after a period of five consecutive days of price increases last week, prompting the president of the Consumer Association of Singapore, Melvin Yong, to urge fuel companies to “exercise greater transparency and restraint” in their pricing adjustments.
Global oil markets also experienced volatility on Monday, with the Brent benchmark reaching US$106 (S$135) before settling back to US$104. Simultaneously, US President Donald Trump called on nations to deploy warships to the Strait of Hormuz.
Current Fuel Prices in Singapore
As of 1.30pm on March 16, Shell has the highest posted prices for all grades of petrol and diesel. A comparison of prices across different fuel companies is shown below:
| Company / Fuel | 92-octane | 95-octane | 98-octane | Premium | Diesel |
| Caltex | $3.41 | $3.45 | Not available | $4.14 | $3.49 |
| Esso | $3.36 | $3.40 | $3.90 | Not available | $3.49 |
| Shell | Not available | $3.47* | $3.99* | $4.21* | $3.56* |
| Sinopec | Not available | $3.40 | $3.90 | $4.03 | $3.48 |
| SPC | $3.36 | $3.39 | $3.90 | Not available | $3.40 |
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Prices are correct as at 1.30pm on March 16. *Indicates change to posted price on March 16 |
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AsiaOne reports that It’s monitoring price boards across Singapore and will provide further updates as they become available.
Frequently Asked Questions
What changes did Shell make to its fuel prices on March 16?
Shell increased its posted prices for 95-, 98-octane, V-Power, and diesel by 7 cents each on March 16.
What did the Consumer Association of Singapore president urge fuel companies to do?
Melvin Yong urged fuel companies to “exercise greater transparency and restraint” in pump price adjustments.
What was the price of Brent crude oil on Monday?
The Brent benchmark rose as high as US$106 (S$135) before easing back to US$104 on Monday.
How might these global events and price adjustments impact your household budget?