Consumers expect pump prices to fall quickly when global oil prices decline
Singapore’s consumer watchdog has called on petrol companies to improve price transparency and ensure fuel prices at the pump reflect global oil price movements more fairly.
CASE Calls for Greater Price Transparency
The Consumers Association of Singapore (CASE) has urged petrol retailers to be more transparent in adjusting fuel prices.
CASE president Melvin Yong said petrol companies should promptly and fairly reflect declines in global oil prices at the pump.
Pump Prices Rising Rapidly
Yong noted that several petrol operators raised prices multiple times within a few days recently.
However, he pointed out that when international oil prices dropped, pump prices for 95-octane petrol continued to increase instead of falling.
Record Petrol Prices in Singapore
Petrol prices have surged amid volatility linked to geopolitical tensions in the Middle East.
As of March 13, the posted price of 95-octane petrol at Caltex reached $3.45 per litre, surpassing the previous record set during the Ukraine crisis in 2022.
Consumers Encouraged to Compare Prices
CASE encouraged motorists to use its Price Kaki mobile application to compare fuel prices across different petrol stations.
The app allows consumers to identify the most affordable fuel options available across Singapore.
Broader Consumer Protection Concerns
Beyond petrol prices, CASE also raised concerns about businesses that collect large prepayments from customers and later shut down.
The association has proposed introducing a mandatory cooling-off period for businesses collecting significant upfront payments to protect consumers from potential losses.
As global energy markets remain volatile, consumer advocates say transparency and fair pricing practices will be crucial to maintaining public trust while helping Singaporeans manage rising living costs.
Sources: Straits Times (2026) , Asia One (2026)
Keywords: Singapore Petrol Price Increase, CASE Fuel Price Transparency, Petrol Pump Prices Singapore, Global Oil Price Impact Singapore, Consumer Protection Singapore Fuel
