About this episode
The episode discusses the rising petrol prices linked to climbing oil prices and geopolitical tensions in the Middle East.
Oil prices keep climbing, and it’s hitting wallets hard. In fact, Rahman says his petrol jumped from $2.60 to $3.40 per litre, which works out to nearly a $100 increase per tank. The surge comes amid the ongoing US–Israel conflict with Iran, with Tehran tightening control over the Strait of Hormuz, a key global oil route. Some believe things may stabilise after the US midterm elections in November, but that’s still months away. Back home in Singapore, leaders have said we have reserves for “rainy days”, so the question is, why does it feel like we’re the ones footing the bill right now?
Topics covered
- oil prices
- petrol prices
- US-Israel conflict
- Iran
- global oil route
- Singapore economy
Keywords
- oil prices
- petrol prices
- US-Israel conflict
- Iran
- Strait of Hormuz
- Singapore
Mentioned in this episode
Places: US, Israel, Iran, Strait of Hormuz, Singapore
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