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/A | S$1.98 | S$2.01 | S$1.95 | N/A |
| 95-Octane | S$2.06 | S$2.02 | S$2.05 | S$1.99 | S$2.02 |
| 98-Octane | S$2.47 | S$2.43 | S$2.64 | S$2.33 | S$2.39 |
| Top Grade | V-Power: S$2.69 | - | - | - | SINO X Power: S$2.55 |
| Diesel | S$1.70 | S$1.70 | S$1.73 | S$1.73 | S$1.70 |
| Price As of | November 12th 2020 | August 26th 2020 | September 16th 2020 | November 12th 2020 | August 27th 2020 |
| Credit Card Promotions | HSBC, Citibank, UOB | DBS, OCBC, Citibank | OCBC, Standard Chartered, HSBC, AA | POSB, DBS, UOB, AMEX | OCBC |
What Affects Petrol Prices In Singapore?
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 Card | 14% | Up to 8% | Up to 20.88% |
| Other Citi Credit Cards | 14% | - | 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 Card | 17% | 7% | 5% | 26.96% maximum |
| All Other UOB Cards | 18% | 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 Card | 5% | 5% | 4% | 8% | 20.88% |
| Other Citi Credit Cards | 5% | 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 Card | 18% | 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 Card | 5% | 5% | 6% | 4.3% |
| OCBC Plus! Visa Credit Card or Debit Card | 5% | 5% | 6% | 4.3% |
| OCBC 365 Credit Card | 5% | 5% | 6% | 4.2% |
| Other OCBC Credit or Debit Cards | 5% | 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 app | All types | 18% | - |
| All OCBC Credit or Debit Cards | Platinum 98 | 16% | - |
| All OCBC Credit or Debit Cards | Regular 92 | 14% | - |
| All OCBC Credit or Debit Cards | Premium 95 | 14% | - |
| All OCBC Credit or Debit Cards | Caltex Diesel | 14% | - |
| OCBC NTUC Plus! Visa Card | All types | 18% | - |
| OCBC Plus! Visa Credit Card | All types | 18% | 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 Payment | All types | 16% | Up to 5% |
| HSBC Premier MasterCard Credit Card & HSBC Visa Platinum Credit Card | Indoor Payment | Platinum 98 | 16% | Up to 5% |
| HSBC Premier MasterCard Credit Card & HSBC Visa Platinum Credit Card | Indoor Payment | Regular 92 | 14% | Up to 5% |
| HSBC Premier MasterCard Credit Card & HSBC Visa Platinum Credit Card | Indoor Payment | Premium 95 | 14% | Up to 5% |
| HSBC Premier MasterCard Credit Card & HSBC Visa Platinum Credit Card | Indoor Payment | Diesel | 14% | Up to 5% |
| HSBC Premier MasterCard Credit Card & HSBC Visa Platinum Credit Card | Outdoor Payment | Regular 92 | 14% | - |
| HSBC Premier MasterCard Credit Card & HSBC Visa Platinum Credit Card | Outdoor Payment | Premium 95 | 14% | - |
| HSBC Premier MasterCard Credit Card & HSBC Visa Platinum Credit Card | Outdoor Payment | Platinum 98 | 14% | - |
| HSBC Premier MasterCard Credit Card & HSBC Visa Platinum Credit Card | Outdoor Payment | Diesel | 14% | - |
| Other HSBC Credit or Debit Cards | CaltexGO Payment | All types | 16% | - |
| Other HSBC Credit or Debit Cards | Indoor Payment | Platinum 98 | 16% | Up to 5% |
| Other HSBC Credit or Debit Cards | Indoor Payment | Regular 92 | 14% | Up to 5% |
| Other HSBC Credit or Debit Cards | Indoor Payment | Premium 95 | 14% | Up to 5% |
| Other HSBC Credit or Debit Cards | Indoor Payment | Diesel | 14% | Up to 5% |
| Other HSBC Credit or Debit Cards | Outdoor Payment | Regular 92 | 14% | - |
| Other HSBC Credit or Debit Cards | Outdoor Payment | Premium 95 | 14% | - |
| Other HSBC Credit or Debit Cards | Outdoor Payment | Platinum 98 | 14% | - |
| Other HSBC Credit or Debit Cards | Outdoor Payment | Diesel | 14% | - |
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 Cards | Platinum 98 | 16% | 5% |
| For all Standard Chartered Credit or Debit Cards | Regular 92 | 14% | 5% |
| For all Standard Chartered Credit or Debit Cards | Premium 95 | 14% | 5% |
| For all Standard Chartered Credit or Debit Cards | Diesel | 14% | 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 92 | 14% |
| Automobile Association of Singapore (AA) Membership Card & SAFRA Card | Premium 95 | 14% |
| Automobile Association of Singapore (AA) Membership Card & SAFRA Card | Caltex Diesel | 14% |
| Automobile Association of Singapore (AA) Membership Card & SAFRA Card | Platinum 98 | 16% |
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 Card | 10% | 5% | 6% |
| For other DBS/POSB Credit or Debit Cards | 10% | 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 Card | 10% | 5% | 5% |
| All other UOB Credit/ Debit | 10% | 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 Card | 10% | 5% | 7.1% |
| Non-Registered American Express Card | 10% | 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 Card | 18% | 2% | 5% |
| For other OCBC Credit or Debit Cards | 18% | 2% | - |
Requirements:
- These promotions are in effect until December 31 2020
Save On Your Petrol With Credit Card Discounts
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.
