Singapore’s Consumers Association (CASE) is calling for greater transparency from petrol companies regarding pricing, following recent fluctuations at the pump and a disparity between global oil price movements and local retail costs. The call came during a dinner marking CASE’s 55th anniversary on March 15, where President Melvin Yong highlighted consumer concerns about the speed at which price increases are passed on compared to decreases.
Yong noted that several petrol operators had raised prices multiple times within a few days, but failed to reflect falling international oil prices with similar speed. Specifically, he pointed to the continued increase in the price of 95-octane petrol despite a downturn in global oil markets. “Consumers understand that global events and geopolitical tensions can affect our oil markets. But they are also asking a reasonable question,” Yong said, adding, “When global oil prices go up, pump prices move up quickly. But when global prices fall, consumers expect these savings to be reflected just as quickly.”
Recent reports indicate that petrol prices in Singapore have been rising alongside volatility in global crude oil markets, influenced by developments in the Middle East. On March 13, The Straits Times reported that some stations were increasing prices more than once a day. Caltex’s 95-octane petrol reached $3.45 per litre, exceeding previous highs set during the Ukraine crisis in 2022, when both Caltex and Shell posted prices of $3.42 per litre.
To help consumers navigate the fluctuating prices, CASE is encouraging the use of its Price Kaki app, which allows users to compare petrol prices across different stations. Yong also addressed concerns regarding prepayment-based business models, where businesses that have collected substantial prepayments from consumers suddenly cease operations, resulting in consumer losses. While acknowledging that some responsible businesses have offered assistance to affected consumers, he emphasized that goodwill alone is insufficient.
CASE has urged the Singaporean government to introduce a mandatory cooling-off period for businesses collecting significant prepayments. “This will deliver consumers time to reconsider their purchases, reduce pressure sales tactics, and strengthen safeguards for consumers,” Yong stated.
Senior Minister of State for Trade and Industry Low Yen Ling, speaking at the same event, confirmed that the government is collaborating with CASE to address consumer protection against prepayment losses and is examining unfair practices within the beauty and wellness sector. A public consultation, to be launched on March 16 by the Consumer Protection Review Panel, will seek input on these issues.
The Consumer Protection Review Panel, convened in March 2025, is tasked with proposing improvements to the Consumer Protection (Fair Trading) Act, which was last significantly amended in 2018. The panel’s scope includes prepayment losses for large purchases and prepaid packages, pressure sales tactics in the beauty and wellness industry, misleading user interfaces on e-commerce platforms, and access to dispute resolution mechanisms.
The public consultation will focus on consumer experiences, industry challenges, and international best practices. It is scheduled to close on April 19, with the panel expected to submit its recommendations to the government in the second half of 2026.
In a separate initiative, a pilot program aimed at helping shoppers compare grocery prices across brands and suppliers will be expanded later in 2026. Launched in September 2025, the pilot involves major supermarket chains displaying unit prices for essential items like rice, meat, seafood, and formula milk powder in over 180 outlets. The government intends to extend the pilot to include more supermarket operators, both in-store and online, and a wider range of grocery items. Ms. Low stated that consumer feedback on the pilot has been positive, with shoppers appreciating the clarity of unit pricing for budgeting and avoiding overspending. A workgroup, co-chaired by Melvin Yong and Sheng Siong chief executive Lim Hock Chee, has been formed to oversee the expansion and develop guidelines for a formal roll-out of the unit pricing program.
