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The new pump prices without discounts are 2.213 Singapore dollars (about 1.627 U.S. dollars) per liter for the 92-octane unleaded petrol, 2.246 Singapore dollars per liter for the 95- octane unleaded, and 2.32 Singapore dollars for the 98-octane grade petrol a liter.
Wednesday's reduction was started by Shell, which cut prices at 11 a.m. local time (0300GMT), followed by Exxon-Mobil at 1 p.m. and then the other two companies, according to local TV Channel NewsAsia.
The pump price for diesel which stands at 2.033 Singapore dollars per liter is not affected by the changes.
Last Saturday, the petrol companies had just increased pump prices for both petrol and diesel by 5 cents a liter.
It was reported that oil prices have fallen by about seven percent since hitting a record high last Thursday. Oil prices fell to 136 U.S. dollars per barrel on Tuesday.
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