Pump prices are up again for the second time in a week, third time in a month, fifth since March. The latest rise - the 12th consecutive since last July was sparked off by oil giant Shell when it upped petrol prices unannounced by five cents a litre and diesel by seven cents at 5pm on Thursday.
ExxonMobil and Caltex matched its move six hours later at 11pm. Singapore Petroleum Co was the latest to adjust its rates, at 10am on Friday. The increases bring the price of a litre of 92-octane fuel to $2.153 before discount, 95-octane to $2.186 and 98-octane to $2.26.
Ultra-premium grades are costlier. Caltex Platinum is going for $2.386 a litre, while Shell V-Power is retailing at $2.379. The price of diesel, which has been rising more sharply than petrol, has hit $1.833 a litre.
The pump price spikes have been on the back of ever-soaring crude oil prices, which hit US$135 a barrel this week. Some analysts are predicting oil would reach US$200 a barrel. If that happens, motorists here would be looking at $3 for a litre of petrol.
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