ComfortDelGro to partially absorb higher fuel costs at its petrol pumps
It will also deploy fuel subsidies to ease the financial pressure on its drivers in the wake of higher pump prices amid the Iran war
[SINGAPORE] Taxi operator ComfortDelGro (CDG) will absorb a portion of increased fuel costs at its petrol pumps, amid rising fuel costs due to the Iran war.
It will also deploy “targeted fuel subsidies” to reduce the financial pressure on its drivers, it said in a statement on Wednesday (Mar 4).
Michael Huang, who heads CDG’s point-to-point mobility business in Singapore, said that the moves were part of the company’s “broader commitment to driver welfare and operational stability during this period of volatility”.
“We are closely monitoring the impact of rising fuel costs driven by the ongoing geopolitical tensions and recognise the direct pressure this places on the livelihoods of our drivers,” he added.
Some petrol companies have raised their pump prices over the week, after petrol prices rose in tandem with the closure of oil supply channels due to the ongoing conflict in the Middle East.
Shell was the first to raise its posted price of the popular 95-octane fuel by S$0.04 to $2.92 a litre on Tuesday morning.
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Caltex increased its prices to match Shell’s after midday, a move that was followed closely by Esso. Sinopec backed the trend hours later.
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