Chinese petrol firms lower pump prices to match Esso's rates, Latest Singapore News - The New Paper

Chinese petrol firms lower pump prices to match Esso's rates

China-owned fuel station operators have lowered petrol prices by another four cents a litre across the board - the third reduction since last Friday (July 1).

According to Fuel Kaki, a pump price tracker initiated by the Consumers Association of Singapore, Sinopec cut rates on Tuesday (July 5), followed by fellow Chinese company SPC on Wednesday.

Sinopec's posted petrol prices are now $3.31, $3.78 and $3.91 a litre for 95-, 98- and premium 98-octane fuels respectively. It also reduced diesel price by one cent, to $3.12 a litre, to match SPC's rate.

SPC's prices are $3.26, $3.30 and $3.78 for 92-, 95- and 98-octane fuels respectively.

Posted prices of these two Chinese operators are now in line with Esso's.

Rates at the other two operators - Caltex and Shell - are around four cents higher.

Esso still has the cheapest petrol after discount among brands with sizeable networks. Its 92-, 95- and 98-octane fuels are as low as $2.67, $2.75 and $3.10 a litre respectively (with DBS Esso card).

Sinopec, which has only three stations, is retailing its 95- and 98-octane fuels at $2.59 and $2.97 a litre respectively (with OCBC cards). Like Shell, it does not offer 92-octane petrol.