America’s largest traded oil company ExxonMobil has increased its pump prices by three cents a litre earlier today (19 May).
With the latest adjustment, Esso’s 95-octane grade petrol is now priced at S$2.02 per litre, S$1.98 per litre for 92-octane, and S$2.39 per litre for 98-octane. Diesel is S$1.70 per litre.
All the rates are before discounts, making Esso fuels the costliest across all brands, except for its 98-octane.
Caltex’s 98-octane is the most expensive, costing S$2.50 a litre, according to fuel price tracker Fuel Kaki.
Meanwhile, Brent crude has gone from a low cost of around US$19.30 a barrel in late April to US$35.30 on 18 May.
In the previous week, the price of 95-octane petrol has dropped to S$1.99 a litre across all brands, before discounts. The price plummeted weeks after the crude oil prices fell to negative for the first time amid the COVID-19 pandemic.