Be prepared to fork out more if you want to drive, as fuel prices are steadily rising with no end in sight.
Case in point: fuel prices hitting a record of $4 per litre… and then rising again.
$4.04 Per Litre
According to Fuel Kaki, a pump price tracker by the Consumers Association of Singapore, the price of a litre of 95-octane fuel ranged from $3.26 and $3.33. This is up from $3.16 to $3.25 from just two weeks ago.
More startlingly, the premium grade of 98-octane fuel at Shell was priced at $4.04 per litre. This is the first time a litre of petrol has crossed the $4 mark in Singapore. Premium grade 98-octane fuel at Sinopec was priced at $3.86 per litre.
Meanwhile, prices for 92-octane fuel ranged from $3.26 to $3.28 per litre, up from $3.13 to $3.20. Prices of diesel have also increased, now costing between $3 to $3.08. This is up from the previous range of $3 to $3.03.
Fuel prices have been on an upwards climb since the beginning of the year. This rise is driven by supply issues, the Russia-Ukraine war, and growing demands for fuel.
You can watch this video to know more about the reasons behind it:
An “Expensive Convenience”
Some people interviewed by TODAY have shared that their monthly fuel expenses have been swelling since the start of the year.
For instance, one spent about $400 per month on fuel in January, but is now spending up to $600.
One interviewee opined that for those who drive for personal reasons, driving has become an “expensive convenience”. But for those who drive for a living, the rising fuel prices are hitting them even harder as it directly affects their livelihoods.
Featured Image: Shutterstock.com / bunyarit
