Singapore

SPC raises petrol prices, no longer cheapest in Singapore


SINGAPORE – After keeping its posted pump prices unchanged since July, China-owned SPC moved its rates up by four to five cents a litre on Thursday (Oct 14).

Its 92-octane petrol is now retailing at $2.51 per litre, putting it on a par with Esso’s, according to Fuel Kaki, a pump price tracker set up by the Consumers Association of Singapore.

Its 95-octane is $2.53, which is still the lowest, while its 98-octane is $3.02 – on a par with Esso and fellow Chinese operator Sinopec. The petrol prices are four cents higher than they were two days ago.

Its diesel is going for five cents more, at $2.08 per litre, also on a par with Esso and Sinopec.

All prices are before discount. Effective prices motorists pay vary – sometimes, vastly – according to factors such as the credit card they use or loyalty programmes they sign up for.

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For instance, Sinopec retails the cheapest 95-octane fuel at $2 per litre if payment is by OCBC cards, followed by $2.09 at Esso (DBS Esso card), $2.11 at Caltex (OCBC Voyage card), $2.15 at SPC (various cards) and $2.24 at Shell (various cards).

Hence, for credit card payments, SPC is the second costliest brand for the most popular grade of petrol.

According to Fuel Kaki tabulations, Sinopec comes up with the lowest effective prices for its fuels generally, but its limitation is that it has only three stations islandwide – a fraction of what the others have.

Also, it does not dispense 92-octane petrol, like Shell.

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The vast majority of petrol-powered cars here can run optimally on 92-octane. This grade is cheapest at Esso, at $2.06 per litre (with DBS Esso card).

Payment by credit card usually offers the lowest prices across all brands.

This article was first published in The Straits TimesPermission required for reproduction.



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