International oil prices have been on a &#34;roller coaster&#34; since the outbreak of the US-Iran conflict, with Brent crude oil prices once soaring to over $100 per barrel (approximately SGD 127), only to quickly retreat after U.S. President Trump hinted that the war might end soon.
Analysts have pointed out that the rise in oil prices could exacerbate the cost pressures on local internet platform companies, including those operating e-commerce, food delivery, and ride-hailing services. Logistics costs and fuel costs for ride-hailing drivers may be indirectly affected by fluctuations in oil prices.
However, at present, major e-commerce platforms have not shown significant adjustments in service fees. Taking online supermarkets, which are most relevant to the daily lives of the general public, as an example, the delivery fees of mainstream online supermarkets have not been affected by oil prices.
The Straits Times tested purchasing a case of drinking water from various supermarket e-commerce platforms to the office, and found that whether through offline supermarkets' online channels, online shopping, or delivery platforms, the delivery fees for grocery categories have largely remained stable compared to February, with only a slight decrease in delivery fees on the Grab platform.
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Grab's delivery and supermarket delivery fees are adjusted based on real-time market dynamics and the location of the merchants, making accurate comparisons difficult. However, it can be confirmed that platform delivery fees have also not been affected by fluctuations in oil prices.
Hussaini Saifee, a research analyst at Maybank, pointed out in an interview that from Grab's overall business perspective, &#34;passing on higher delivery fees to consumers is one feasible option,&#34; but the current impact of oil price fluctuations on the platform remains within a controllable range.
When distinguishing specific businesses, Hussaini mentioned that delivery riders in the food delivery business primarily drive two-wheeled vehicles, which have lower fuel costs. As for ride-hailing platforms, the gasoline prices for drivers are regulated in most ASEAN countries and have not yet been affected by fluctuations in oil prices.
<h3>E-commerce platforms have low fuel cost ratios; the impact of oil price changes is controllable</h3>
<h4>Further Reading</h4>
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Hosseini further stated that for e-commerce platforms like Shopee, fuel costs account for a relatively low proportion of their total costs, so the impact of oil price fluctuations remains quite manageable.
Citi Bank analyst Alicia Yap recently released a report stating that Grab has established fuel price discount partnerships with several oil companies in Singapore, Malaysia, and Indonesia, which is sufficient to offset the impact of rising oil prices.
Citi's analysis also indicated that Grab is not expected to further increase the minimum fare for private hire drivers due to rising oil prices, but may dynamically adjust the driver incentive system to attract or retain drivers, thereby helping to balance and meet user demand.
&#34;Unless the situation in the Middle East worsens further or conflicts continue, we believe the impact on Grab's private hire car business margins remains within a controllable range.&#34;
The price of West Texas Intermediate (WTI) crude oil for April contracts had fallen below $90 per barrel by Tuesday (March 10), and Brent crude oil continuous contracts had also retreated to the $90 per barrel range.
As for how the platforms will respond to changes in oil prices and take measures to ensure stable service fees, as of the time of publication, both Grab and Lazada had not responded promptly to The Straits Times' request for comments, while Shopee declined to comment

International oil prices fluctuated due to the US-Iran conflict, with Brent crude prices briefly exceeding $100 per barrel, but retreated after Trump hinted that the war might end. Analysts believe that rising oil prices may increase cost pressures for e-commerce, food delivery, and ride-hailing platforms, but currently, delivery fees for e-commerce platforms have not been significantly adjusted, and delivery fees for supermarket e-commerce remain stable. Analysts from Malayan Banking Berhad pointed out that although the impact of oil price fluctuations on platforms is manageable, passing on higher delivery fees to consumers is one feasible solution

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Second week of the US-Iran conflict: Oil price fluctuations have not increased e-commerce delivery fees | Lianhe Zaobao