3 ways to save up on all-time-high petrol costs in Singapore
With the rising cost of fuel over the past few months, what can we do to save up on the cost of fuel? The answer is memberships and credit cards.
PHOTO: Unsplash
PUBLISHED ONJuly 01, 2022 7:18 AMByEvan Sim
2022 has not been favourable for vehicle owners; the supply shock from the Russian oil ban that has arisen from the escalating Russo-Ukrainian conflict and the restricted Chinese oil refinery market caused by local lockdowns, as well as an increasing demand as economies from other countries recover, has resulted in petrol prices rising to as much as $4/litre for 98 octane petrol for Shell.
According to DirectAsia, the average Singapore car drives at approximately 17,500km annually, while the most common vehicle, the Toyota Corolla Altis, gets an average of 15.4 km/litre.
This means that the annual fuel cost for an average car to drive at an average mileage with the price of the middle tier octane 95 fuel ranging from $3.26 - $3.33 would cost about (17, 500/15.4)* $3.30 ≈ $3,750/year. Fuel costs for less fuel-efficient and luxury cars will be higher than this.
| Most common Car | Toyota Corolla Altis |
|---|---|
| Full Tank of Altis | 55 litres |
| Average cost of pumping to full tank | $181.50 |
| Average fuel consumption | 15.4 km/litre |
| Average fuel price | $3.30 |
| Average annual fuel cost of octane 95 | $3,750 |
So how do we curb the rising cost of fuel? How can we save more money from petrol? There are a few ways that we will discuss in this article.
Summary of petrol benefits
The table below shows the different perks, benefits, and discounts for petrol and diesel from membership from Petrol Station Loyalty Cards, Affiliated Partners, and Credit Cards.
| Brand | Discount/Perks | Benefits |
|---|---|---|
| Petrol Station Loyalty Programme | ||
| Esso Smiles | One point/litre | For All Petrol Types |
| Five per cent OFF when using Esso Credit Cards | Applicable to DBS Esso Card | |
| Sinopec X | One point/litre | Spent on Power98 / SINO Power95 / Diesel |
| 1.5 point/litre | Spent on SINO X Power | |
| SPC&U | Ten per cent Discount | Spent on 92,95 and 98-octane petrol |
| Up to 15per cent Discount | Spent on diesel | |
| Shell Escape | 1.2 points/litre | Spent on Shell V-power |
| One point/litre | Spent on Shell FuelSave98/95 & Shell Diesel. | |
| Caltex Plus | Three points/litre of Techron | 150points/SGD |
| Affiliated Membership Programme | ||
| SAFRA | 14 per cent Fuel Discount | Spent on Caltex 92/95/Diesel |
| 16 per cent Fuel Discount | Spent on Caltex Platinum 98. | |
| Automotive Association | 16 per cent Fuel Discount | Spent on Caltex Platinum 98; |
| 14 per cent Fuel Discount | Spent on Caltex 92/95/Diesel. | |
| NTUC | 150 LinkPoints/SGD | For Esso and Caltex Stations |
| HomeTeamNS | 24 per cent Discount | Of any petrol types at Bukit Timah station |
| 23 per cent Discount | Of any petrol types at Yishun and Woodlands station | |
| Credit Cards | ||
| UOB One Credit Card | Up to 22.66 per cent Fuel Savings | SPC |
| Up to 21.15 per cent Fuel Savings | Shell | |
| OCBC 365 Credit card | Up to 24 per cent Fuel Savings | Sinopec |
| Up to 23 per cent Fuel Savings | Caltex | |
| Up to 20.4 per cent Fuel Savings | Esso | |
| HSBC Visa Platinum ^^^ | Up to 20.2 per cent Fuel Savings | Caltex |
| Up to 18.3 per cent Fuel Savings | Shell | |
| DBS Esso Card | Up to 21.2 per cent Fuel Savings | Esso |
Maximise Discounts with Both Credit Cards & Petrol Cards Using the Toyota Corolla Altis as a Control (Each Car will have different fuel tank sizes and varied usage), we will compare the fuel prices for each credit card discount.
We will show the full price of a full tank of the Altis, which is 55 litres, as well as their discounted price and potential savings from discounts.
| Esso | |||
|---|---|---|---|
| Type | Orginal Price 30 June 2022 | OCBC 365 | DBS Esso |
| 92 | $3.34x 55L = $183.70 | $146.23 (Saved $37.47) | $144.76 (Saved $38.94) |
| 95 | $3.39 x 55L = $186.45 | $148.41 (Saved $38.04) | $146.92 (Saved $39.53) |
| 98 | $3.86 x 55L = $212.30 | $168.89 (Saved $43.41) | $167.29 (Saved $45.01) |
| Diesel | $3.17 x 55L = $174.35 | $138.78 (Saved $35.57) | $137.39 (Saved $36.96) |
| Caltex | |||
| Type | Orginal Price 30 June 2022 | OCBC 365 | HSBC Visa Platinum |
| 92 | $3.37 x 55L = $185.35 | $142.72 (Saved $42.63) | $147.91 (Saved $37.44) |
| 95 | $3.42 x 55L = $188.10 | $144.84 (Saved $43.26) | $150.10 (Saved $38.00) |
| Premium | $4.08 x 55L = $224.40 | $188.19 (Saved $51.61) | $179.08 (Saved $45.33) |
| Diesel | $3.19 x 55L = $175.45 | $135.10 (Saved $40.35) | $140.01 (Saved $35.44) |
| Shell | |||
| Type | Orginal Price 30 June 2022 | UOB One | HSBC Visa Platinum |
| 95 | $3.42 x 55L = $188.10 | $148.32 (Saved $39.78) | $153.68 (Saved $34.42) |
| 98 | $3.91 x 55L = $215.05 | $169.57 (Saved $45.48) | $175.70 (Saved $39.35) |
| Premium | $4.13 x 55L = $227.15 | $179.11 (Saved $48.04) | $185.58 (Saved $41.57) |
| Diesel | $3.19 x 55L = $175.45 | $138.34 (Saved $37.11) | $143.34 (Saved $32.11) |
| SPC | |||
| Type | Orginal Price 30 June 2022 | UOB One | SPC&U Discount |
| 92 | $3.34 x 55L = $183.70 | $142.07 (Saved $41.63) | $165.33 (Saved $18.37) |
| 95 | $3.38 x 55L = $185.90 | $143.78 (Saved $42.12) | $167.31 (Saved $18.59) |
| 98 | $3.86 x 55L = $212.30 | $164.19 (Saved $48.11) | $191.07 (Saved $21.23) |
| Diesel | $3.16 x 55L = $173.80 | $134.42 (Saved $39.38) | $156.42 (Saved $26.07) |
| SinoPec | |||
| Type | Orginal Price 30 June 2022 | OCBC 365 | HomeTeamNS |
| 95 | $3.39 x 55L = $186.45 | $141.70 (Saved $44.75) | |
| 98 | $3.86 x 55L = $212.30 | $161.35 (Saved $50.95) | |
| Premium | $3.99 x 55L $219.45 | $166.78 (Saved $52.67) | |
| Diesel | $3.16 x 55L = $173.80 | $132.09 (Saved $41.71) | |
Fuel Prices are taken from MotoristSG on June 30, 2022.
Petrol station loyalty cards for discounts
Loyalty programmes are the best way to save up on petrol costs. Loyalty programmes are designed to provide points when you spend money at that petrol station; members can use those points for discounts on petrol or other items sold in the petrol station.
Esso Smiles
Esso Smiles Card allows you to get an instant discount and earn Esso Smiles points for reward redemption. With one litre of fuel purchase = one Esso Smiles point. Plus, earn up to 5per cent rebates when used along with selected credit cards such as the DBS Esso Card.
Sinopec X
The Sinopec X Card allows you to get rewarded with X Points each time you purchase petrol from Sinopec; you can use these X points to redeem cash rewards.
With one litre of SINO Power98 / SINO Power95 / Diesel = one Point, one litre of SINO X Power = 1.5 point. Every 90 X points can be redeemed for $3 off any fuel.
SPC&U card
SPC&U is a loyalty programme for SPC customers to gain discounts and deals from SPC stations. You can receive instant discounts if you register for an SPC&U membership card. You’ll get to enjoy up to 10per cent discount on 92,95 and 98-octane petrol and up to 15per cent on diesel.
Shell Escape
The Shell Escape Card allows you to get exclusive discounts when spending on Shell Stations, with more point accumulation given for those with selected credit cards such as HSBC credit cards. Every one litre of Shell V-power spent = 1.2 points, and every one litre of Shell FuelSave98/95 & Shell Diesel spent = one point.
Caltex Plus
Caltex Plus is a loyalty programme from Caltex that uses their new app, CaltexGo for transaction and point accumulation, Every litre of Techron fuel you pump at Caltex earns you three LinkPoints, and 150 Linkpoints = $1.
For redemption of LinkPoints via CaltexGO, points will be redeemed based on the gross fuel purchase amount followed by card promotions or discounts.
Partnered affiliated membership cards for petrol discounts
If you are a member of an affiliated partner such as NTUC, Automotive Association, or SAFRA, you can also enjoy promotional discounts on petrol at selected petrol stations.
SAFRA Card
If you are a member of the Singapore Armed Forces Reservist Association (SAFRA), you can enjoy the following discounts when they present your SAFRA Card at any Caltex station, such as 14 per cent off for Caltex Ron 92, 95 Fuel and Diesel, and a 16 per cent fuel discount for Caltex Platinum 98 Fuel only.
NTUC Plus! Card
If you are a Caltex or Esso user, you can earn NTUC Plus! Link Points to get more discounts in the future, with 150 LinkPoints ≈ S$1.
Automobile Association card
Members of the Automobile Association (A.A.) of Singapore can enjoy the following discounts when they present their AA Card at any Caltex station along with other Caltex offers, with up to 16 per cent instant discount on Caltex Platinum 98 and 14 per cent instant discount on Caltex Regular 92, 95 and Diesel.
HomeTeamNS Card
If you are a member of HomeTeamNS, you can enjoy up to 24 per cent Instant Savings on All Fuel Purchase when you fill up your tank at Sinopec just by flashing your HomeTeamNS card to selected Sinopec stations.
With 24 per cent discount at Bukit Timah station, and 23 per cent discount at Yishun and Woolands station
Credit Cards for petrol discounts
There are some cash back and miles credit cards that provide significant savings for petrol costs, with some cards bringing to as much as 26 per cent savings for you.
There are credit cards that offer discounts when used together with the membership card of the petrol station brand, and there are credit cards that provide a standalone deal when using it for fuel expenditures.
UOB One Credit Card
| Apply Now Apply Now |
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UOB One Card Cardholders who consistently spend $2,000/month earn a five per cent general rebate, up to $300/quarter. This rate is further boosted to six per cent on utility bills and ten per cent on Grab and selects UOB Travel spend. Those spending $500 or $1,000/month earn 3.33 per cent rebates, up to $50 or $100/quarter, respectively. Cardholders earn up to 22.66 per cent fuel savings at SPC and 21.15 per cent at Shell. |
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UOB One Card Cardholders who consistently spend S$2,000/month earn a five per cent general rebate, up to $300/quarter. This rate is further boosted to six per cent on utility bills and ten per cent on Grab and selects UOB Travel spend. Those spending $500 or $1,000/month earn 3.33 per cent rebates, up to $50 or $100/quarter, respectively. Cardholders earn up to 22.66 per cent fuel savings at SPC and 21.15 per cent at Shell. |
### OCBC 365 Card
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OCBC 365 Card is the absolute best everyday card on the market because of its great rates for essentials, lack of merchant restrictions, and easy fee-waiver–features not offered by competitors. Cardholders earn up to 24 per cent fuel savings with Sinopec, 23 per cent with Caltex, 20.4 per cent with Esso, and 5per cent at all other stations in Singapore. OCBC 365 is one of the best cards for petrol savings as consumers must spend $800/month to access those rates and discounts. While this may seem high, it’s on par with other alternatives. |
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OCBC 365 Card is the absolute best everyday card on the market because of its great rates for essentials, lack of merchant restrictions, and easy fee-waiver–features not offered by competitors. Cardholders earn up to 24 per cent fuel savings with Sinopec, 23 per cent with Caltex, 20.4 per cent with Esso, and five per cent at all other stations in Singapore. OCBC 365 is one of the best cards for petrol savings as consumers must spend $800/month to access those rates and discounts. While this may seem high, it’s on par with other alternatives. |
### HSBC Visa Platinum: No-fee cashback & miles
| Apply Now Apply Now |
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HSBC Visa Platinum card is very distinct in offering both miles and cashback rewards, but it also stands out for its petrol savings and potential fee waiver. Cardholders receive a five per cent rebate on local dining & groceries after $600 minimum spend, plus 0.4 miles per $1 on all general spending, with no minimum requirement. Cardholders earn up to 20.2 per cent fuel savings at Caltex and 18.3 per cent at Shell, assuming they consistently meet the $600 minimum requirement. Below this spending level, cardholders can still earn 17 per cent fuel savings at Caltex & 14 per cent at Shell. It’s important to note that to access the five per cent rebate–and higher discounts on petrol–cardholders must spend $600/month every month for an entire quarter (three months each). If you charge $2,400 (including $240 at Shell) monthly on your HSBC credit card, you can earn up to 600 points, with every $5 spent on an HSBC Credit Card = one Shell Escape point. |
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HSBC Visa Platinum Card is very distinct in offering both miles and cashback rewards, but it also stands out for its petrol savings and potential fee waiver. Cardholders receive a five per cent rebate on local dining & groceries after $600 minimum spend, plus 0.4 miles per $1 on all general spending, with no minimum requirement. Cardholders earn up to 20.2 per cent fuel savings at Caltex and 18.3 per cent at Shell, assuming they consistently meet the $600 minimum requirement. Below this spending level, cardholders can still earn 17 per cent fuel savings at Caltex & 14 per cent at Shell. It’s important to note that to access the five per cent rebate–and higher discounts on petrol–cardholders must spend $600/month every month for an entire quarter (three months each). If you charge $2,400 (including $240 at Shell) monthly on your HSBC credit card, you can earn up to 600 points, with every $5 spent on an HSBC Credit Card = one Shell Escape point. |
### DBS Esso Platinum Card: Top savings for Esso loyalists
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DBS Esso Card is an excellent petrol card for Esso loyalists, offering up to 21.2 per cent fuel savings at Esso, plus 2.2 per cent additional savings after 250 litres of Synergy fuel are purchased. As of June 2022, Esso has low prices of $2.67/litre for octane 92, $2.71/litre when using the DBS Esso card for octane 95, and $3.10/litre for octane 98 petroleum. |
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DBS Esso card is an excellent petrol card for Esso loyalists, offering up to 21.2 per cent fuel savings at Esso, plus 2.2 per cent additional savings after 250 litres of Synergy fuel are purchased. As of June 2022, Esso has low prices of $2.67/litre for octane 92, $2.71/litre when using the DBS Esso card for octane 95, and $3.10/litre for octane 98 petroleum. |
Conclusion
With the rising fuel costs for cars, it is not sustainable to not have discounts on fuel.
Alternative to taking public transport or taxis/private hire cars, the best way to save up on fuel costs is to sign up for a loyalty programme from the petrol station brand, be a member of their affiliate partners, or use a credit card that provides discounts.
ALSO READ: Lower-octane petrols in Singapore back up to $3 level
This article was first published in ValueChampion.
