Singaporeans may have to pay more for celebrations as helium costs rise up to 40% amid Middle East conflict

SINGAPORE: Singaporeans may soon have to pay more for celebrations as party businesses struggle against rising helium costs amid the Middle East conflict. Major producers of helium, a by-product of natural gas production, include the United States and Qatar.

Singapore’s one-stop party and gift shop Misty Daydream reportedly said new tanks of helium cost up to 40% more than before the Iran war, while SgBalloons, a creative decorations provider for events, said it was quoted about 27% more per tank when they made an order about two weeks ago.

Misty Daydream also said higher diesel prices pushed up their delivery costs and overall operating expenses.

Both companies told Channel News Asia they are absorbing the added costs for now instead of passing them on to customers.

Three weeks ago, Sgballoons posted on Instagram that they’re keeping their prices frozen for March despite an increase in their operating costs amid rising global costs for helium and fuel.

Currently, both companies are working on diversifying their offerings and reducing reliance on gas.

Celebrations aside, the squeeze from the Middle East conflict could also push up prices of hawker meals, as hawkers grapple with higher ingredient costs, energy prices and fuel-related surcharges. /TISG

Read also: ‘I’m job hugging even harder’: Some Singaporeans share how they’re navigating rising costs amid the Middle East war