Media: Singapore Raises Electricity and Gas Prices Amid Middle East Conflict
According to Singapore's local newspaper, The Straits Times, authorities in Singapore have significantly increased residential electricity and gas prices against the backdrop of the Middle East conflict.
The paper quoted an official from the Energy Market Authority (EMA), stating that after the price adjustment, rates will reach historically highest levels in Singapore.
The Straits Times reported: "From July to September, household electricity rates in Singapore will rise by 17%, while gas charges will also increase by 7.1%."
The publication explained that over one million households will receive discounts to offset the rise in utility costs, as part of Singapore’s ongoing assistance program for middle- and low-income families.
Iran and the United States signed a memorandum of understanding remotely on the evening of June 18, aiming to end the military conflict that began on February 28. The memorandum also sets a timeline for the U.S. lifting its maritime blockade and Iran restoring shipping activities through the Strait of Hormuz.
Original source: toutiao.com/article/1869441137001481/
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