Caltex cancels price increase to be back in line with competition


With Caltex’s move, 92-octane petrol is now a uniform S$2.71 across three of the five players here. - ST

SINGAPORE (The Straits Times/Asia News Network): Caltex has reverted to its previous pump rates after competitors did not follow its price rise last week.

The brand owned by American oil major Chevron upped its petrol prices by five cents a litre last Thursday (Sept 29), despite crude oil and wholesale fuel prices continuing to slide.

The other four pump operators – Esso, Shell, Sinopec and SPC – did not follow Caltex's move, hence the company went back to its previous prices over the weekend.

Oil industry consultant Ong Eng Tong, a four-decade trade veteran, said: "Pump operators here look at crude oil prices as well as wholesale fuel prices, but of late, more on crude.

"And unlike previously, they react quite fast to these price movements these days –especially after the issue of pump prices had been brought up in Parliament so many times recently."

With Caltex's move, 92-octane petrol is now a uniform S$2.71 across three of the five players here. Shell and Sinopec do not offer this grade, which can be used by the majority of cars here.

The 95-octane grade is now $2.76 a litre except at SPC, which has a posted price of $2.75 for this popular grade.

The 98-octane fuel is $3.23 at Esso, Sinopec and SPC, and $3.25 at Shell.

The so-called premium 98-octane grade is $3.42 at Caltex, $3.36 at Sinopec and $3.47 at Shell.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Singapore , fuel , price , Caltex , pump , cancel

   

Next In Aseanplus News

Average hotel room rates in Singapore hit 14-year high in September 2022; rate going at RM923 per night
Chinese military sharpening amphibious assault skills, state TV report on landing drill says
Families slam Indonesia's acquittal over Papua army killings
PAS the choice of more than just tahfiz graduates, says Idris Haron
Hamzah selected to be Opposition leader in Parliament, says Takiyuddin
27 deputy ministers sworn in before the King at Istana Negara
LCS project to proceed but subject to review, says Defence Minister
Three Hong Kong women arrested after police find HK$400,000 worth of drugs in New Territories hotel room
Thai consumer confidence at 20-month high in November
Magnitude 5.6 earthquake strikes Mindanao, Philippines, confirms EMSC

Others Also Read