Diesel price spikes fuel concerns over higher business costs, consumer prices
Rising gasoil costs and supply issues threaten margins across Singapore’s import-reliant supply chains and retail sector
[SINGAPORE] Diesel prices in Singapore have recently spiked, and industry players warned that higher transportation and logistics expenses could drive up the cost of doing business as well as the prices of goods in Singapore.
Energy and commodity market intelligence provider Argus indicated that Singapore gasoil prices have reversed from the downward trend seen from March to June this year. It climbed to a recent high of US$210 per barrel on Sep 16, up from US$111.75 per barrel on Jun 26.
Gasoil is the global benchmark for diesel and heating oil price.
