July 2, 2022

Electricity, petrol prices in S’pore to keep rising as global supply outlook worsens

By brit

SINGAPORE – Singaporeans must brace themselves for high electricity and petrol prices over a protracted period as the global supply of motor fuels such as petroleum and diesel remains tight due to limited production capacity, while Europe scrambles to replace energy imports from Russia.

Prices were already elevated due to increased economic activity amid the post-pandemic recovery before Russia invaded Ukraine on Feb 24.