Singapore fuel prices hit record highs, forcing fare hikes and driver support

Fuel prices in Singapore have hit a record high, reaching 3.30 SGD per litre as of March 23, 2026. This matches the previous peak set just a week earlier and surpasses levels seen during both the pandemic and the Ukraine war in 2022. The sharp rise has already pushed taxi operators to increase fares, with Grab announcing a temporary surcharge to support drivers. The latest surge in fuel costs has seen 95-octane petrol priced between S$3.40 and S$3.42 at most stations. Compared to previous months, prices have climbed by over 20%, while year-on-year figures show a near 20% increase. These figures now exceed the highs recorded during the 2022 Ukraine conflict.

In response, Grab will raise its fuel surcharge by 40 cents (RM1.26) from April 7, bringing the total to 90 cents for all trips except standard or metered taxis. The company has also rolled out a S$1.1 million support package, including fuel vouchers, higher cash bonuses, and increased cashback rebates. Grab confirmed that the surcharge will go entirely to drivers, with no commission taken. Other operators are taking action too. Strides Premier is offering up to S$500 in fuel credits to new taxi or private-hire drivers who join between March 24 and April 30. Meanwhile, *The Straits Times* has reached out to Gojek, Ryde, Tada, and ComfortDelGro for comment on potential fare adjustments. The National Private Hire Vehicles Association (NPHVA) first introduced a driver fee in 2022 to help offset rising living and fuel costs, and this latest adjustment will remain until at least May 31.

The fuel surcharge and support measures aim to ease the financial strain on drivers as petrol prices stay near record levels. Grab's temporary increase, along with incentives from other operators, reflects the immediate impact of rising costs on the transport sector. The situation will be reviewed again before the end of May.