Caltex becomes second company to raise petrol prices this week; third consecutive week of hikes
Singapore drivers are seeing their fuel costs rise as the weekend approaches. On Friday, October 30, Caltex adjusted its pump prices to match the increase announced by Shell the previous day. The company, owned by Chevron, raised the price of its 92‑octane, 95‑octane and premium gasoline by three Singapore cents per litre. Diesel prices were left unchanged in the same update released at 11 a.m. This is the second time Caltex has lifted gasoline rates this month, following a similar three‑cent hike on October 21. In recent weeks the two major retailers, Shell and Caltex, have been alternating price rises, with Esso, Sinopec and SPC usually following later in the cycle. Unlike the others, SPC did not implement a hike last week, even though four other major fuel firms did.
Motorists in Singapore are feeling the strain on their wallets heading into the weekend, with Caltex matching Shell's Oct 29 increase on Friday (Oct 30).In a price board update published at 11am, Chevron-owned Caltex announced that it has raised prices for its 92-, 95-octane and premium petrol offerings by three cents each, while keeping its diesel price unchanged.This follows its last round of price increments posted on Oct 21, also by 3 cents per litre.In recent weeks, Shell and Caltex have taken turns to hike petrol prices, with Esso and Sinopec usually the next to raise prices, and lastly, SPC.But SPC did not raise prices last week, despite the four other major fuel companies doing so.Following the latest round of price increments, the price of the more popular 95-octane petrol at the five major fuel companies now ranges from $3.56 at SPC to $3.63 at Caltex and Shell.