Singapore Gives Rp4.2 Million Household Assistance to Street Vendors to Face World Oil Spike

ILLUSTRATION UNSPLASH/Yesheng Liang

JAKARTA - The Singapore government will allocate an additional 900 million Singapore dollars (Rp9.8 trillion) to help households and communities deal with the impact of soaring oil prices.

In April, the Singapore government allocated 778 million US dollars (Rp. 14 trillion) to support communities, households, and businesses amid rising prices. At the same time, households and businesses are also urged to save energy.

The latest financial assistance was distributed through vouchers worth 300 Singapore dollars (Rp4.2 million) for each household as well as additional discounts on bills for communal service costs from October 2026 to January 2027, according to a report by The Straits Times.

Meanwhile, small and medium-sized businesses that employ local residents will receive assistance of at least 500 to 1,200 Singapore dollars (Rp7-16 million) for stall owners who rent space in the center of the sidewalk and markets.

The report said the Singapore government estimates that global energy prices will still be high in the future, so gasoline and diesel prices, electricity, and retail products will still be high.

Following the escalation of the conflict in Iran, global oil prices soared due to supply disruptions in the Strait of Hormuz, which is a key route for one-fifth of global oil exports. Although a total cessation of oil exports was successfully prevented, the world market is still very unstable.