Pump prices creep up at all retailers except for SPC

After a month of staying at their lowest in several years, pump prices have moved up in line with higher wholesale fuel prices as world economies reopen after the COVID-19 pandemic lockdowns.

The popular 95-octane petrol is now $0.03 higher at $2.02 a litre at Caltex, Esso and Shell, and $0.06 higher at $2.05 at Sinopec.

Only SPC's price remains unchanged at $1.99. SPC's 92-octane fuel costs $1.95 and its 98-octane fuel is $2.33, while its diesel costs $1.67, making its fuels the cheapest here. Except for its diesel, which it raised by three cents to $1.67 in mid-June, the Chinese-owned firm has not changed its pump prices since early May.

The 92 grade is retailing at $1.98 a litre at Caltex and Esso. It is not available at Shell and Sinopec. The 98 grade is $2.42 at Shell and Sinopec, $2.39 at Esso and $2.53 at Caltex. Diesel is $1.70 a litre at Caltex, Esso and Shell, but $1.73 at Sinopec. Meanwhile, Shell's V-Power is $2.65, while Sinopec's X Power is $2.58.

All prices are before discounts, and are posted by Fuel Kaki, a pump price tracker managed by the Consumers Association of Singapore.

RBOB gasoline, a publicly-traded commodity and a proxy for wholesale petrol price, is currently at around U.S$1.27 a gallon, up from around U.S$1.15 in late-June, and U.S$0.50 in April. Brent crude is above U.S$43.50 a barrel, up from U.S$40.30 in late-June, and less than U.S$20 in April.