The Big Story: Petrol prices on the rise amid Middle East conflict - Should you brace for higher prices if the war prolongs?

As tensions flare in the Middle East, global oil markets are on edge. Here in Singapore, major players like Shell, Caltex, Esso and Sinopec have raised 95-octane prices to around $2.92 a litre. Behind the spike? Growing fears that supplies could be disrupted through the Strait of Hormuz, one of the world’s most critical energy chokepoints. But this isn’t just a story for motorists. Singapore depends heavily on imported energy, especially natural gas and LNG, to keep the lights on and businesses running. So could higher oil prices feed into broader inflation pressures? And for drivers, should we brace for even more pain at the pump in the days ahead? On The Big Story, Hongbin Jeong speaks to Song Seng Wun, economic advisor at the SDAX investment platform, to find out more. See omnystudio.com/listener for privacy information.