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All You Need To Know About Petrol Prices Singapore & Credit Card Discounts 2020

AA Petrol Discount American Express Petrol Discount Best Petrol Discount Caltex Petrol Price Credit Card Discount Petrol DBS Petrol Discount ESSO Petrol Price OCBC Petrol Discount Petrol Credit Card Discount Petrol Discount Petrol Discount Singapore Petrol Price Comparison Singapore Petrol Price Singapore Chart Petrol Prices Discount Petrol Prices Singapore POSB Petrol Discount Safra Petrol Discount Shell Petrol Price Singapore Petrol Price Sinopec Petrol Price SPC Petrol Price UOB Petrol Discount


All You Need To Know About Petrol Prices Singapore & Credit Card Discounts 2020


Owning a car in Singapore probably means you’ve won the lottery. After all, a Volkswagen Golf 1.4 costs $110,479 in our country, but just $20,000 in the US.

If you add up your car loan instalment, parking, petrol, insurance, and road tax you’re spending about $1,500/ month.

With that said, all of us must be scrambling to cut down costs wherever we can.

And what better place to start than petrol?

Lucky for you, we did all the research and sussed out the credit cards that you can utilise to get the best petrol prices in Singapore! Let’s start with this price comparison table and the available card promotions:

  SHELL ESSO CALTEX SPC SINOPEC
92-Octane N/AS$1‬.‬9‬8S$2‬.‬0‬1S$1‬‬‬‬.‬‬‬‬9‬‬‬‬5N/A
95-Octane S$2.06S$2‬‬‬‬.‬‬‬‬0‬‬‬‬2S$2‬‬‬‬‬‬.‬‬‬‬‬‬0‬‬‬‬‬‬5S$1‬‬‬.‬‬‬9‬‬‬9S$2‬.‬0‬2
98-Octane S$2.47S$2‬‬‬‬.‬‬‬‬43S$2‬.‬6‬4S$2‬‬‬.‬‬‬3‬‬‬3S$2‬‬‬.‬‬‬3‬‬‬9
Top Grade V-Power:
S$2.69
---SINO X Power:
S$2.55
Diesel S$1.70S$1.70S$1‬‬‬‬.‬‬‬‬7‬‬‬‬3S$1.73S$1.70
Price As of November 12th 2020‬August 26th ‬2‬0‬2‬0‬S‬‬‬‬‬‬e‬‬‬‬‬‬p‬‬‬‬‬‬t‬‬‬‬‬‬e‬‬‬‬‬‬m‬‬‬‬‬‬b‬‬‬‬‬‬e‬‬‬‬‬‬r‬‬‬‬‬‬ 16th ‬‬‬‬‬‬2‬‬‬‬‬‬0‬‬‬‬‬‬2‬‬‬‬‬‬0‬‬‬‬‬‬November 12th 2020August 27th ‬‬‬2‬‬‬0‬‬‬2‬‬‬0
Credit Card Promotions HSBC, Citibank, UOBDBS, OCBC, CitibankOCBC, Standard Chartered, HSBC, AAPOSB, DBS, UOB, AMEXOCBC

What Affects Petrol Prices In Singapore?

What-Are-The-Factors-That-Affect-Petrol-Prices-In-Singapore-Credit-21

Two main factors determine petrol prices in Singapore:

1. Government-Imposed Petrol Tax

Premium and regular motor petrol have fuel excise taxes. We’re talking about 98, 92, and 95 octane petrol.

Things aren’t better for Diesel cars.

If you own such a car, their petrol price is augmented by a Special Tax via LTA.

And don’t forget that all types of gasoline come with a 7% GST.

2. Handling Costs

Your petrol needs to be transported and stored safely. Each company has to pay for marketing and operations. At the end of the day, the retailers need to make a profit.

Yes, all of that comes out of your pocket.

Even if crude oil prices plummeted today, you would still pay almost the same for petrol because of these extra costs involved in handling your fuel.

We can all agree that that’s pretty bad.

Now that we’re done complaining, let’s see how we can take advantage of all the discounts available.

Shell Petrol Credit Card Discounts 

1. Citibank

Citibank Cards Upfront Discount Cashback Total Savings
Citi Cash Back Card14%Up to 8%Up to 20.88%
Other Citi Credit Cards14%-Up to 14.00%

Requirements:

  • Spend at least $888/ month for the 8% cashback option.
  • Your credit and corporate card have to be issued in Singapore.

2. HSBC

Your HSBC credit card can bring you:

  • 1 point for every $5 spent
  • 20% more points for Shell V-power

Warning: This promotion is valid until December 31 2020.

3. UOB

UOB Cards Upfront Discount SMART$ Rebate Cash Rebate Total Savings
UOB One Credit Card17%7%5%26.96% maximum
All Other UOB Cards18%4%-21.28% maximum

Your UOB card offers a maximum 5% cash rebate. However, if you want the $300 quarterly cash rebate, you need at least five purchases per month that add up to $2000.

Requirements:

  • The SMART$ rebate and the UOB Card rebate carry into effect after the Shell and Shell Escape discounts.
  • 1 SMART$ point values $1.
  • Some cards can’t be used for the UOB SMART$ Programme:
    • PRVI Miles Platinum American Express Card
    • Preferred Platinum American Express Card
    • UnionPay Platinum Card
    • Travel Account Card
    • Purchasing and Private Label Card

 

Esso Petrol Credit Card Discounts 

1. Citibank

Citibank Cards Esso Station Discount Esso Smiles Card Discount Citi Card Discount Citi Cashback Total Savings
Citi Cash Back Card5%5%4%8%20.88%
Other Citi Credit Cards5%5%4%-14%

Requirements:

  • Pay with a Smiles Card for the 5% Esso Smiles discount.
  • You need to pay with the Citibank card (credit or debit) to get the 4% Citi Card discount.
  • You need to spend at least $888/ month for the 8% cashback.

2. DBS

DBS Cards Upfront Discount Additional Fuel Savings Smiles Savings
DBS Esso Card18%3.2%2.4% maximum

Requirements:

  • If you use mobile wallet payments, you can’t get the 18% instant discount. These online methods include Apple Pay, Google Pay, and Samsung Pay.
  • You need to spend at least $180 per month at ESSO stations in Singapore if you want to be eligible for Additional Fuel Savings
  • If you buy 250 litres of Synergy fuel in a month, you get Smiles Points. These points amount t 1.7% for standard tier and 2.4% in the case of bonus tier.

3. OCBC

OCBC Cards Esso Smiles Card Discount Esso Station Site Discount OCBC Card Discount OCBC Rebate
OCBC NTUC Plus! Visa Credit Card or Debit Card5%5%6%4.3%
OCBC Plus! Visa Credit Card or Debit Card5%5%6%4.3%
OCBC 365 Credit Card5%5%6%4.2%
Other OCBC Credit or Debit Cards5%5%4%-

Requirements:

  • Suppose you have an NTUC/OCBC Plus! Visa card, you need a minimum $300 spend for the OCBC rebate.
  • If you own an OCBC 365 Credit Card, you need a minimum $800 spend/ month for the OCBC rebate.
  • If you buy 250 litres of Synergy fuel within a month with your Smiles car, you get smiles points that add up to 2.4% fuel savings.

 

Caltex Petrol Credit Card Discounts 

1. OCBC

OCBC Cards Fuel Type Upfront Discount Cash Rebate or LinkPoints
All OCBC Credit or Debit Cards with CaltexGO appAll types18%-
All OCBC Credit or Debit CardsPlatinum 9816%-
All OCBC Credit or Debit CardsRegular 9214%-
All OCBC Credit or Debit CardsPremium 9514%-
All OCBC Credit or Debit CardsCaltex Diesel14%-
OCBC NTUC Plus! Visa CardAll types18%-
OCBC Plus! Visa Credit CardAll types18%Additional $7 cash rebate, 0.2% LinkPoints rebate for every $1 charged, and earn 3 LinkPoints for every litre of fuel purchased

Requirements:

  • These promotions are in effect until December 31 2020
  • You need to spend at least $300/ month for fuel for the $7 rebate.

2. HSBC

HSBC Cards Payment Type Fuel Type Upfront Discount Cash Rebate
HSBC Premier MasterCard Credit Card
&
HSBC Visa Platinum Credit Card
CaltexGO PaymentAll types16%Up to 5%
HSBC Premier MasterCard Credit Card
&
HSBC Visa Platinum Credit Card
Indoor PaymentPlatinum 9816%Up to 5%
HSBC Premier MasterCard Credit Card
&
HSBC Visa Platinum Credit Card
Indoor PaymentRegular 9214%Up to 5%
HSBC Premier MasterCard Credit Card
&
HSBC Visa Platinum Credit Card
Indoor PaymentPremium 9514%Up to 5%
HSBC Premier MasterCard Credit Card
&
HSBC Visa Platinum Credit Card
Indoor PaymentDiesel14%Up to 5%
HSBC Premier MasterCard Credit Card
&
HSBC Visa Platinum Credit Card
Outdoor PaymentRegular 9214%-
HSBC Premier MasterCard Credit Card
&
HSBC Visa Platinum Credit Card
Outdoor PaymentPremium 9514%-
HSBC Premier MasterCard Credit Card
&
HSBC Visa Platinum Credit Card
Outdoor PaymentPlatinum 9814%-
HSBC Premier MasterCard Credit Card
&
HSBC Visa Platinum Credit Card
Outdoor PaymentDiesel14%-
Other HSBC Credit or Debit CardsCaltexGO PaymentAll types16%-
Other HSBC Credit or Debit CardsIndoor PaymentPlatinum 9816%Up to 5%
Other HSBC Credit or Debit CardsIndoor PaymentRegular 9214%Up to 5%
Other HSBC Credit or Debit CardsIndoor PaymentPremium 9514%Up to 5%
Other HSBC Credit or Debit CardsIndoor PaymentDiesel14%Up to 5%
Other HSBC Credit or Debit CardsOutdoor PaymentRegular 9214%-
Other HSBC Credit or Debit CardsOutdoor PaymentPremium 9514%-
Other HSBC Credit or Debit CardsOutdoor PaymentPlatinum 9814%-
Other HSBC Credit or Debit CardsOutdoor PaymentDiesel14%-

Requirements:

  • These promotions are in effect until December 31 2020
  • If you have an HSBC Premier Mastercard, you need to spend at least $600/ month for gas to get the 5% rebate.
  • If you have an HSBC VISA Platinum card, you need to spend at least $600/ month for the 5% rebate.

3. Standard Chartered

Standard Chartered Cards Fuel Type Upfront Discount Rebates
For all Standard Chartered Credit or Debit CardsPlatinum 9816%5%
For all Standard Chartered Credit or Debit CardsRegular 9214%5%
For all Standard Chartered Credit or Debit CardsPremium 9514%5%
For all Standard Chartered Credit or Debit CardsDiesel14%5%

Requirements:

  • These promotions are in effect until December 31 2020
  • If you have a Standard Chartered Credit Card, you need to spend at least $600 per month to get the 5% rebate.

4. AA and SAFRA

Partner Cards Fuel Type Upfront Discount
Automobile Association of Singapore (AA) Membership Card
& SAFRA Card
Regular 9214%
Automobile Association of Singapore (AA) Membership Card
& SAFRA Card
Premium 9514%
Automobile Association of Singapore (AA) Membership Card
& SAFRA Card
Caltex Diesel14%
Automobile Association of Singapore (AA) Membership Card
& SAFRA Card
Platinum 9816%

Requirements:

  • These promotions are in effect until December 31 2020

 

SPC Petrol Credit Card Discounts

1. DBS/POSB

DBS/POSB Cards SPC&U Members Discount DBS/POSB Card Discount Card Rebate
POSB Everyday Card10%5%6%
For other DBS/POSB Credit or Debit Cards10%5%-

Requirements:

  • These promotions are in effect until December 31 2020
  • To get the 5% discount, use your POSB Everyday Card to buy fuel at an SPC station.
  • You’ll get the 6% rebate only after all the other discounts are applied.

2. UOB

UOB Cards SPC&U Members Discount UOB Card Discount Additional Petrol Savings
UOB One Card10%5%5%
All other UOB Credit/ Debit10%5%-

Requirements:

  • These promotions are in effect until December 31 2020
  • You can get the 5% discount only if you spend $2000/ month using your UOB One Card.
  • You can get a $3 discount off all your purchases to save up to 5% if you make purchases of at least $60 gross/ $51 net. This promotion is only valid for UOB Visa, Union Pay and Master Card.

3. American Express

American Express Cards SPC&U Members Discount American Express Card Savings American Express Card Rebate
Registered American Express Card10%5%7.1%
Non-Registered American Express Card10%5%-

Requirements:

  • These promotions are in effect until December 31 2020
  • Only the first 50,000 registered American Express cards are eligible for the 7.1% statement promotion.
  • You need to buy petrol at an SPC service station using American Express card to benefit from the 5% savings.
  • American Express Corporate and Express Cards aren’t eligible for the promotion if they’re issued by:
    • Citibank Singapore Limited
    • DBS Bank Ltd
    • United Overseas Bank Limited

 

Sinopec Petrol Credit Card Discounts 

1. Bukit Timah 

If you purchase your petrol from Bukit Timah station, you’re eligible for 23% instant savings off your total costs. However, you can’t benefit from any other discounts and promotions together with this offer.

This offer stands only between 31 October 2020 (23:01) till 30 November 2020 (23:00)\

2. OCBC

OCBC Cards Special Onsite Discount OCBC Card Discount OCBC Cashback
OCBC 365 Credit Card18%2%5%
For other OCBC Credit or Debit Cards18%2%-

Requirements:

  • These promotions are in effect until December 31 2020

 

Save On Your Petrol With Credit Card Discounts

Save-More-On-Petrol-With-Credit-Card-Privileges-Credit-21

Your monthly car instalments, fixed road tax, parking and ERP charges, petrol prices. These are just some of the additional costs that come with purchasing a car. While we can’t do much for the most part, we can certainly save on petrol, whenever possible.

How so?

By choosing the best credit card discounts!

We analysed all the current petrol discounts and promotions in Singapore above. With all their available rebates, upfront discounts and cashback options, some credit cards allow you to save as much as 20% of the final cost.

This way, you can be assured that you’re paying the best price for petrol prices in Singapore!

However, don’t make the mistake of applying for too many credit cards because you’re kiasu and want to get all the possible discounts! There is always the risk of racking up multiple credit card debt which is something that we all do not want.

When racking up credit debt, this can easily run into thousands of dollars. This is why Singaporeans should start learning the importance of financial literacy since young and be better prepared for the future.


Simply click here to apply a loan online and you won’t be disappointed.