Caltex leads first drop in fuel prices since Sept 14
Fuel prices in Singapore have dropped for the first time in nearly seven weeks since Sept 14, when rates rose after over two months of unchanged prices. In a price board update published at 1pm on Wednesday (Nov 4), Chevron-owned Caltex announced that it has dropped prices for its 92-, 95-octane, premium petrol, and diesel offerings by three centres per litre each.As at Thursday, no other major fuel company here has mirrored the move, although SPC has held it petrol prices unchanged since Oct 16.In recent weeks, Shell and Caltex have taken turns to hike petrol prices, with Esso and Sinopec usually the next to raise prices, and lastly, SPC.The price of the more popular 95-octane petrol now ranges from $3.56 at SPC to $3.63 at Esso, Shell and Sinopec, with Caltex holding the middle ground at $3.60 per litre.