The Minister of Finance has advised the following regarding Retail Petroleum Products Prices, Inclusive of VAGST, that will apply from 1st of May 2025.
All retail products recorded price decreases:
> Petrol decreased by 7.2 sene per litre, from $3.09 to $3.02.
>Diesel decreased by 5.7 sene per litre, from $3.17 to $3.11.
>Kerosene decreased by 9.4 sene per litre, from $2.81 to $2.71.
May prices are based on the March 2025 Mean of Platts Singapore ‘MOPS’ marker
prices.
International oil prices decreased in early March, reflecting the economic uncertainties created by the new tariff policies announced by the USA. Whilst there was some recovery in late March, further volatility in oil prices is expected over the coming months.
The Figure below shows the price of Petroleum Products in some Pacific Countries such as New Zealand, Australia and Fiji for information.
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