The fighting may have stopped, but Singapore households could still feel the impact in their wallets.

Despite a peace deal between the US and Iran that is expected to reopen the Strait of Hormuz, the Energy Market Authority is warning that electricity tariffs could rise significantly from July.

So why aren't consumers seeing relief yet? How much more could households end up paying for electricity? And if the peace holds, when can Singaporeans realistically expect lower energy prices to filter through to their utility bills?

On The Big Story, Hongbin Jeong speaks with Dr Chua Yeow Hwee, Assistant Professor in Economics at the Nanyang Technological University, and Honorary Secretary of the Economics Society of Singapore, to find out more.