Why have Singapore petrol prices hit a record?

They have moved higher due to tight global crude supply, shipping risks near the Strait of Hormuz, and firm refining margins. Local pump boards reflect these costs quickly. With duties stable, the main driver is imported energy. Prices recently surpassed the 2022 peak, according to The Straits Times, signaling strong external pressures on fuel.

Will EV charging rates in Singapore rise from April?

Charging prices are stable now, but operators warn they could increase from April if electricity tariffs rise. The Business Times reported that an April increase looms as power costs trend higher. Any adjustment may start at high‑demand locations or peak hours, with providers seeking to recover higher site energy and grid charges.

How could this affect inflation and MAS policy?

Higher fuel and power costs lift transport and utilities, which can firm core services inflation. If pressures persist, MAS may keep policy tight to anchor expectations. Watch CPI releases, tariff announcements, and pump boards. Sustained high singapore petrol prices could slow disinflation and extend cost pressures into the next quarter.

What can households and drivers do to manage costs?

Combine trips, use route planning, and compare station prices. For EVs, shift sessions to off‑peak hours and track operator promotions. Consider public transport for short hops. Businesses can review delivery schedules and add fuel surcharge clauses. These steps can soften the hit while singapore petrol prices and power costs remain elevated.

Global Market Insights

March 13: Singapore Petrol at Record; EV Charging, Power Set to Rise

ByDanny Kontos March 13, 2026March 13, 2026

Singapore petrol prices just set a new record, surpassing 2022 highs as supply risks grow and global crude stays tight. At the same time, electricity prices Singapore could climb, which may lift EV charging rates from April. This combination raises near‑term transport and utility costs for households and businesses. We explain what is pushing prices higher, how this can affect inflation and listed sectors, and the signals investors in Singapore should watch next.