In Parliament on Tuesday (Jul 5), Low Yen Ling said that Singapore will not consider controls on petrol and diesel pump prices, even as fuel costs here climb on the back of higher global crude oil prices. The Minister of State for Trade and Industry said that “The government’s approach is to ensure that we have a competitive fuel retail market”.
TISG talks to the everyday man to find out how he’s coping amidst rising fuel prices in Singapore.
One driver said that the “rise in petrol costs has shot up drastically, especially for private-hire drivers such as Grab drivers like myself”. The driver, who did not name himself, told TISG that the recent petrol hike has been “increasing too aggressively”.
“This steep petrol hike is appalling”, he added.
Another driver, Shaiful, said that the rise in petrol price has been affecting not only his but also his friends’ daily income.
“Usually we will pump (petrol) at least two times a day but usually the price will be at a lower price. But now, since after the Covid (pandemic), borders have opened, the price of petrol has been increasing no matter how much we save”, he said.
He added that half a tank of petrol used to cost him $15 or $20, but now it is about $25.
Yet another driver TISG spoke to said that the petrol price hike has greatly impacted him. He added that his family used a “family sports car” and they would need to pump higher-grade fuel types.
“Hopefully gas prices here can reduce to normal as before February”, he said.
One food delivery rider said that the petrol hike had been affecting his monthly income. “It is kind of expensive if I work every day because I am everyday (sic) on the road, long hours. With the high petrol prices it affects my income”, he said, adding that he earned lesser in a month due to the hike.
A lady who used her car to travel to work said that it was “unfair”. She added that with the rise in petrol prices, she had to cut down on other expenses just for the petrol, or she would spend lesser time driving and had to find other alternatives.
In Parliament, Low said: “Regulating or capping petrol or diesel pump prices will distort the market and serve to benefit car owners, especially those who consume more, who may include more well-to-do users.” It could also reduce the incentive for Singaporeans to switch to more energy-efficient transportation, she added. /TISG