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SINGAPORE: Some taxi companies will absorb part of the recent fuel price increases to cushion the impact on drivers, as the war in the Middle East drives up global oil prices.<\/p>\n
Singapore\u2019s largest taxi operator ComfortDelGro said it will cover some of the higher fuel costs, recognising the \u201cdirect pressure\u201d that the hikes place on drivers\u2019 livelihood.<\/p>\n
\u201cWorking with the National Taxi Association to alleviate the drivers\u2019 financial pressure, we will absorb a portion of the increased fuel costs at our pumps and deploy targeted fuel subsidies as part of a broader commitment to driver welfare and operational stability during this period of volatility,\u201d said Mr Michael Huang, head of its Singapore point-to-point mobility business.<\/p>\n
The firm said that as of Thursday morning (Mar 5), its petrol price was S$1.93 (US$1.51) per litre, 34 per cent lower than retail. Its diesel was priced at S$1.41 per litre and 48 per cent lower than retail.<\/p>\n
Another taxi operator, Trans-Cab, also committed to absorbing a portion of the fuel price increases to help ease immediate cost pressures on drivers.<\/p>\n
“We remain mindful of the challenges faced by our drivers and will continue to assess the situation carefully,” said the company, adding that it is closely monitoring developments in the Middle East and the potential impact on fuel prices.<\/p>\n
According to online car marketplace Motorist, pump prices for 95-octane in Singapore on Thursday ranged from S$2.91 to S$2.97 per litre. They cost S$2.87 to S$2.88 per litre on Feb 23, before the war in the Middle East began.<\/p>\n
Similarly, diesel prices also experienced an increase over the same period – from S$2.57 to S$2.66 per litre, to S$2.61 to S$2.78 per litre.<\/p>\n<\/div>\n