Three ways to Save up on All-Time High Petrol Costs in Singapore

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.

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.

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.

Fuel Prices are taken from MotoristSG on 30 June 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 5% 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 = 1 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 10% discount on 92,95 and 98-octane petrol and up to 15% 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 1 litre of Shell V-power spent = 1.2 points, and every 1litre of Shell FuelSave98/95 & Shell Diesel spent = 1 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 3 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% off for Caltex Ron 92, 95 Fuel and Diesel, and a 16% 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% instant discount on Caltex Platinum 98 and 14% instant discount on Caltex Regular 92, 95 and Diesel.

HomeTeamNS Card

If you are a member of HomeTeamNS, you can enjoy up to 24% 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 a 24% discount at Bukit Timah station, and a 23% discount at Yishun and Woodlands 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% 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

### OCBC 365 Card

### HSBC Visa Platinum: No-Fee Cashback & Miles

### DBS Esso Platinum Card: Top Savings for Esso Loyalists

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, which you can check our detailed comparison here!

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The article Three ways to Save up on All-Time High Petrol Costs in Singapore originally appeared on ValueChampion.