Stay in the loop with our comprehensive guide to petrol prices in Singapore! Get the latest updates & save big! Petrol prices in Singapore fluctuate based on global oil prices and government taxation. Currently, they are relatively high compared to some neighboring countries due to high excise taxes and petrol duty rates imposed by the government. Importance of understanding petrol price updates Understanding petrol price updates is crucial for budget planning. It impacts daily commute costs, influences inflation rates, affects business operations, and ultimately, the overall economy. Regularly monitoring the latest petrol price in Singapore can ensure informed financial decisions. Understanding Petrol Prices Explanation of how petrol prices are determined Petrol prices are determined by several factors, primarily crude oil prices in the international market, refining costs, distribution and marketing costs, and taxes. Currency exchange rates also play a significant role, particularly in countries that import oil. Impact of global oil prices on local petrol prices...