95 octane petrol now costs more than S$3 per litre

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95 octane petrol now costs more than S$3 per litre 95 octane petrol now...

Derryn Wong

07/03/2022

Singapore - Shell station - petrol pumps

95 Octane petrol, along with other petrol prices, have spiked in Singapore because of the effects of the Ukraine invasion

SINGAPORE – 95 octane grade petrol has just exceeded S$3/per litre here, which is faintly shocking news for most motorists, but it comes on the back of further disturbances from the Ukraine conflict to an already disrupted energy supply chain.

The Straits Times first reported this with Shell announcing the price of its 95 octane petrol at S$3.06/litre. Other petrol sellers are close – Caltex S$2.98, Esso/Sinopec at S$2.95, and SPC at S$2.81. Of course, after the usual petrol discounts the price will be less, but it’s still higher than it has been in recent history.

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After discount, the price for 95 octane from Shell is S$2.91. Shell’s top-line petrol, V-Power, is now an eye-watering S$3.77 a litre, and S$3.58 after discount.* That means an average family sedan, like a Toyota Corolla Altis, with a 50-litre tank would cost S$159.89 for 95 octane, and S$179 for V-Power.

*Not including credit card discounts and other promos.

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Why? Petrol prices are linked closely to the price of oil. The first instigator of recent instability was the Covid pandemic, with crude oil prices going from negative and close to zero in 2020 to the highest prices seen since 2014 in February, and they now sit at US$130 a barrel – the highest since 2008.

As we mentioned in our story on the effects of the invasion of Ukraine by Russia, Singapore’s car buyers/owners will be affected by increasing petrol prices and possible delivery delays since the war will disrupt not only oil supply and prices, but also the production of cars and components. Even EV drivers won’t escape it – electrical energy supplied by natural gas, like Singapore’s, is also likely to become more expensive.

What can you do? Watch your right foot – driving style is the biggest factor determining fuel consumption, amongst other things.

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About the Author

Derryn Wong

CarBuyer's former chief editor was previously the editor for Top Gear Singapore and a presenter for CNA's Cruise Control motoring segment.

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