Singapore’s Fuel Fiasco: Why Your Wallet’s Losing Ounces
Everyone’s felt that pinch the last time they ran out of fuel – the receipt’s numbers just keep creeping upward, especially in October. It’s no trick on your part; the Straits Times has flagged a fourth price hike in three weeks, with Caltex leading the charge and Sinopec close behind.
What’s the Final Tab?
- 95‑Octane – most common in Singapore roads – now sits at $2.69 per litre for Caltex and $2.63 per litre for Sinopec.
- That means Caltex’s base price is now on par with Shell – a look‑alike that will make your bank account feel like a match‑making show.
Why are the pumps nearly accelerating your expenses? Back in early October, the Straits Times highlighted a global rebound: economies are reopening, energy demand is surging, and oil producers are scrambling to fill the gap. Who knew the oil markets would hit a vintage level of prices, with natural gas and coal also out of the block?
Remember the Last Big Price Jump?
- On Oct 14, 2021 95‑Octane topped the charts at: $2.53 (SPC), $2.55 (Sinopec & Esso), $2.61 (Caltex & Shell).
- Fast forward to Oct 28, 2021—the numbers edged up: $2.58 (SPC), $2.59 (Sinopec), $2.63 (Esso), $2.69 (Caltex & Shell).
That’s almost a ₹0.07 bump every litre – or roughly $3 per full 47‑L tank of a 2016 Honda Civic 1.6 i‑VTEC. And that’s BEFORE you even consider your credit card coins.
Not just petrol – the price spike has seeped into diesel and every other grade on the pump.
What Lies Ahead?
With the world slowly stepping back into normalcy, the trend looks set to keep rolling. Rumors on the swing that 95‑Octane could reach a staggering $3 per litre by 2022.
Time to crunch those numbers once more. Figure out which credit‑card combo gives you the best rebate and hope we can skip the next trip to the petrol station altogether.
