Petrol Prices in Singapore: What’s Behind the Spike and When Will It Ease?

If you’ve filled up recently, you know the sting—the numbers just keep climbing. Over the past few weeks, petrol prices in Singapore have edged past the $3.20 mark for 95-octane at most stations. And with the Middle East conflict showing no signs of cooling, everyone’s asking: how much worse can it get?

Why Are We Paying More at the Pump?

It’s not your imagination—global oil benchmarks have been on a rollercoaster, and Singapore, as a net importer, feels every swing. The ongoing tensions in the Middle East have kept traders jittery, pushing Brent crude well above US$90 a barrel. But it’s not just geopolitics. A top government official recently pointed out that while our energy supply is diversified and secure, the knock‑on effect on electricity tariffs and fuel prices is unavoidable. Even if we don’t import a single drop from the conflict zone, the global market sets the price we pay.

Word on the street is that the authorities have also been keeping a close eye on the retailers. I’ve been tracking the apps, and it’s true: sometimes prices move up within hours of a crude spike, but come down slowly. Makes you wonder.

More Than Just Petrol: The Ripple Effect

Higher crude prices don’t just hit your fuel tank. They trickle down to almost everything. Take engine oil, for instance. If you drive an older car or care about performance, you’d know Shell Helix Ultra 5W‑40—that fully synthetic magic juice—has gone up by nearly 15% compared to last year. Mechanics are blaming the base oil price hikes, and honestly, it’s getting hard to find a good deal.

And it’s not just cars. My neighbour was complaining last weekend that his Husqvarna 122HD60 hedge trimmer—you know, that sleek petrol‑powered beast—is now costing him more to run. The two‑stroke mix isn’t cheap anymore, and even the hardware stores are adjusting prices because their delivery trucks also run on diesel. So if you’re into gardening, you’re feeling it too.

Here’s a quick list of everyday items quietly creeping up due to fuel costs:

• Shell Helix Ultra 5W-40 and other lubricants – up 10‑15% since last year.
• Husqvarna 122HD60 and similar power tools – delivery surcharges added to retail prices.
• Hawker food – because ingredients are transported by trucks, and stallholders pay higher electricity bills.
• Grab and delivery fees – yes, platform drivers are passing on the pump pain.

The Bigger Picture: War, Subsidies, and What's Next

If you’ve been following the chatter, you’ve probably heard the buzz around the latest deep dive into petrol prices on the rise amid Middle East conflict. That episode really laid out the worst‑case scenario: if the war drags on, we could see sustained high prices well into 2027. And it’s not just petrol—diesel, which powers our entire logistics network, is also under pressure.

Speaking of diesel, there’s been a lot of Aussie chat about diesel and petrol subsidies to be removed soon. I actually had a coffee with financial experts Hann and Sani last week (yes, they’re the ones from that popular podcast), and they were pretty blunt: the current subsidy model isn’t sustainable. Once subsidies are peeled back, businesses will have to absorb or pass on the costs. Sani's advice? "Lock in fixed‑price plans where you can, and start budgeting for higher transport costs."

And if you’re into the nitty‑gritty, don’t miss that recent episode that unpacks the mystery of petrol prices. It dives into why Singapore’s prices don’t always mirror global trends—things like inventory costs, exchange rates, and the infamous "rocket and feather" effect (prices shoot up like a rocket but come down like a feather). It’s a real eye‑opener.

Should You Brace for Higher Prices?

Short answer: yes. Government officials have also indicated that even with our energy security measures, electricity tariffs are expected to climb in the coming months. That means your bill at home, your office air‑con, and even the cost of charging an EV will all head north.

So what can we do? Besides driving a bit less or switching to public transport, it pays to be a smart shopper. Use those apps to compare pump prices, consider loyalty discounts, and maybe hold off on that new hedge trimmer if you don't absolutely need it. And if you're due for an oil change, shop around—some mechanics still have old stock of Shell Helix Ultra at pre‑hike prices.

One thing's for sure: the days of $2.50 petrol are behind us, at least for the foreseeable future. As Hann put it, "We're in a new normal. Adapt or pay the price."