Ultimate Comparison Of Petrol Prices And Credit Card Discounts
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Ultimate Comparison Of Petrol Prices And Credit Card Discounts

Ruth Lum
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Getting a car in Singapore is a really complicated thing because of the hundred and one things to consider (mostly costs) that help you decide if you really need and can afford this car.

man walking out to new car wrapped in ribbon
Source: Giphy

Let’s be honest, you’ll first need to understand the various factors that goes into your car’s crazily expensive price tag, then you’ll need to assess if you’re earning enough to afford a car comfortably.

That’s not the end, my friends!

There are so many other expenses you’ll need to consider and luckily for you, you can save on parking fees if you plan ahead and go to these places with free parking spots!

What’s next?

gif of man pumping petrol
Source: Giphy

We bring to you a full breakdown of fuel prices in Singapore, which are known to be notoriously higher than in most other countries.


TL;DR – Latest Petrol Price Comparison & Credit Card Discounts

petrol price comparison & credit card discounts

As you can see, Sinopec currently has the lowest rates compared to the rest, but they only have 2 outlets and only OCBC cardholders will receive exclusive discounts.

Fret not if you don’t stay near either of the Sinopec outlets.

The other fuel companies have pretty competitive prices as well and often have more credit card discounts!

 SHELLESSOCALTEXSPCSINOPEC
92-OctaneN/AS$2.31S$2.31S$2.31N/A
95-OctaneS$2.35S$2.35 S$2.35S$2.35S$2.32
98-OctaneS$2.74S$2.72S$2.77S$2.72S$2.69
Top GradeV-Power:
S$2.91
N/AN/AN/ASINO Power:
S$2.81
DieselS$1.96S$1.95S$1.96S$1.95S$1.93
Credit Card PromotionsHSBC, Citibank, UOBDBS, OCBC, CitibankOCBC, Standard Chartered, HSBC, AAPOSB, DBS, UOB, AMEXOCBC
Last Updated10 December 201903 January 202010 December 201911 December 201927 December 2019

Psst… If you’re lazy to scroll, just click on the fuel company you usually frequent to be teleported and find out more about their respective credit card discounts!


How Are Petrol Prices Determined In Singapore?

1. Petrol Tax By The Government

In Singapore, there is a fuel excise tax for motor petrol (92 and 95 Octane) and for premium motor petrol (98 Octane).

But diesel vehicles aren’t spared either because LTA levies a Special Tax on such vehicles.

In addition, the 7% GST also applies to all fuels.

2. Handling Costs

  • Storage
  • Transportation
  • Marketing
  • Operations
  • Retailer profit margin

The cost of the fuel itself is but one of many components of petrol, which is why we don’t necessarily see a significant drop in petrol prices even when crude oil prices decrease.


For your convenience, these are the best credit cards in Singapore when it comes to petrol perks and discounts at different fuel companies:

P.S. You’re welcome!

All numbers are obtained from the respective fuel company’s websites, through speaking with representatives or via social media posts.

Best Shell Petrol Credit Card Discounts

Shell Logo

Citibank Shell Credit Card Discounts

Citibank CardsUpfront DiscountCashbackTotal Savings
Citi Cash Back Card14%Up to 8%Up to 20.88%
For other Citi Credit Cards14%NAUp to 14.00%

Terms & Conditions:

  • Total minimum retail spend of S$888 per statement month required for 8% cashback.
  • Excludes non-Singapore issued Credit cards and Citibank Corporate Cards.

HSBC Shell Credit Card Discounts

HSBC CardsUpfront DiscountCash RebateTotal Savings
HSBC Premier MasterCard Credit Card14%5%Up to 18.30%
HSBC Visa Platinum Credit Card14%Up to 5%Up to 18.30%
For other HSBC Credit or Debit Cards14%NAUp to 14.00%

Terms & Conditions:

  • Excludes non-Singapore issued HSBC Credit / Debit Cards and HSBC Corporate Cards.

UOB Shell Credit Card Discounts

UOB CardsUpfront DiscountSMART$ RebateCash RebateTotal Savings
UOB One Credit Card10%7%5%Up to 20.80%
For other UOB Credit Cards10%4%NAUp to 13.60%

Terms & Conditions:

  • SMART$ rebate and/or UOB One Card rebate apply after Shell site discount and Shell Escape discount. 1 SMART$ is equivalent to S$1.00.
  • UOB SMART$ Rebates Programme does not apply to UOB PRVI Miles Platinum American Express Card, UOB Preferred Platinum American Express Card, UOB UnionPay Platinum Card, UOB Travel Account Card, Purchasing and Private Label Card unless otherwise stated.
  • Enjoy up to 5% cash rebate based on a spend of S$2,000 monthly for each qualifying quarter with min. 5 purchases monthly to earn the quarterly cash rebate of S$300.

Best Caltex Petrol Credit Card Discounts

Caltex Logo

OCBC Caltex Credit Card Discounts

OCBC CardsFuel TypeUpfront DiscountCash Rebate or LinkPoints
All OCBC Credit or Debit Cards with CaltexGO appAll types18%NA
All OCBC Credit or Debit CardsPlatinum 9816%NA
Regular 9214%NA
Premium 95
Caltex Diesel
OCBC NTUC Plus! Visa CardAll types18%0.2% LinkPoints rebate for every $1 charged
OCBC Plus! Visa Credit Card Earn 3 LinkPoints for every litre of fuel purchased

Terms & Conditions:

  • Valid from 1 January 2019 to 30 June 2020

HSBC Caltex Credit Card Discounts

HSBC CardsPayment TypeFuel TypeUpfront DiscountCash Rebate
HSBC Premier MasterCard Credit Card
&
HSBC Visa Platinum Credit Card
CaltexGO PaymentAll types16%Up to 5%
Indoor PaymentPlatinum 9816%Up to 5%
Regular 9214%
Premium 95
Diesel
Outdoor PaymentRegular 9216%Up to 5%
Premium 95
Platinum 98
Diesel14%
For other HSBC Credit or Debit CardsCaltexGO PaymentAll types16%NA
Indoor PaymentPlatinum 9816%NA
Regular 9214%
Premium 95
Diesel
Outdoor PaymentRegular 9216%NA
Premium 95
Platinum 98
Diesel14%

Terms & Conditions:

  • Valid from 1 January 2019 to 30 June 2020
  • In order to be eligible for the HSBC Card Rebates of 5%, HSBC Premier Mastercard Cardholders will need to charge a minimum of S$600 per calendar month
  • In order to be eligible for the HSBC Card Rebates of 5%, HSBC VISA Platinum Cardholders will need to charge a minimum of S$600 every month in a calendar quarter

Standard Chartered Caltex Credit Card Discounts

Standard Chartered CardsFuel TypeUpfront DiscountRebates
For all Standard Chartered Debit CardsPlatinum 9816%NA
For all Standard Chartered Credit CardsPlatinum 9816%5%
For all Standard Chartered Credit or Debit CardsRegular 9214%NA
Premium 95
Diesel

Terms & Conditions:

  • Valid from 1 January 2019 to 30 June 2020
  • To be eligible for the 5% rebate, Standard Chartered Credit Cardholders must successfully charge a minimum of $600 within the same calendar month on total eligible retail spends.

AA and SAFRA Caltex Discounts

Partner CardsFuel TypeUpfront Discount
Automobile Association of Singapore (AA) Membership Card
& SAFRA Card
Regular 9214%
Premium 95
Caltex Diesel
Platinum 9816%

Terms & Conditions:

  • Valid from 1 January 2019 to 30 June 2020

Best Esso Petrol Credit Card Discounts

Citibank Esso Credit Card Discounts

Citibank CardsEsso Station DiscountEsso Smiles Card DiscountCiti Card DiscountCiti Cash back
Citi Cash Back Card5%5%4%8%
For other Citi Credit Cards5%5%4%NA

Terms & Conditions:

  • To enjoy the 5% Esso Smiles Card discount, payment at Esso stations must be made together with a Smiles Card
  • 4% Citi Card discount refers to any Citibank Credit/Debit Card issued by Citibank Singapore Limited
  • To qualify for 8% cash back, Citi Cash Back Cardholders need to fulfil a total minimum retail spend of S$888 per statement month

DBS Esso Credit Card Discounts

DBS CardsUpfront DiscountAdditional Fuel SavingsSmiles Savings
DBS Esso Card18%$7 fuel savings with min. $180 nett fuel spendUp to 2.4%

Terms & Conditions:

  • 18% instant fuel discount is not applicable for Mobile Wallet payments such as Apple Pay, Samsung Pay, and Google Pay.
  • To qualify for Additional Fuel Savings, Cardmembers must spend a minimum of S$180 nett fuel spend per calendar month at any Esso service stations in Singapore, valid from 1 January 2019 to 31 March 2020.
  • Smiles members will be awarded Smiles Points equivalent to 1.7% (normal tier) or 2.4% (bonus tier) fuel savings when 250 litres of Synergy fuel is purchased within a calendar month.

OCBC Esso Credit Card Discounts

OCBC CardsEsso Smiles Card DiscountEsso Station Site DiscountOCBC Card DiscountOCBC RebateEsso Smiles Points
OCBC NTUC Plus! Visa Credit Card or Debit Card5%5%4.2%4.3%Up to 2.3%
OCBC Plus! Visa Credit Card or Debit Card
OCBC 365 Credit Card5%5%4%4.3%Up to 2.3%
For other OCBC Credit or Debit Cards5%5%4%NAUp to 2.3%

Terms & Conditions:

  • To qualify for the 4.3% OCBC rebate, NTUC/OCBC Plus! Visa Cardholders and OCBC 365 Credit Cardholders will have to spend a minimum of S$300 nett and S$800 nett per month respectively.
  • Smiles points equivalent to 2.3% fuel savings will be awarded when 250 litres of Synergy fuel are purchased within a calendar month using the same Smiles card

Best SPC Petrol Credit Card Discounts

SPC Logo

 

DBS/POSB SPC Credit Card Discounts

DBS/POSB CardsSPC&U Members DiscountDBS/POSB Card DiscountCard Rebate
POSB Everyday Card10%5%6%
For other DBS/POSB Credit or Debit Cards10%5%NA

Terms & Conditions:

  • Valid until 31 March 2020
  • 5% discount is applicable when you charge your petrol purchase at any SPC service station to your POSB Everyday Card.
  • 6% rebate is applicable on the final charge amount, after any other applicable discounts

UOB SPC Credit Card Discounts

UOB CardsSPC&U Members DiscountUOB Card DiscountAdditional Petrol Savings
For UOB Visa, MasterCard, and UnionPay Credit Cards10%5%5%
For UOB American Express Credit Cards10%5%NA

Terms & Conditions:

  • Valid until 31 March 2020
  • 5% discount is applicable when you charge your petrol purchase at any SPC service station to your UOB Visa/MasterCard/American Express®/UnionPay Platinum Card.
  • For every S$60 gross purchase (or S$51 nett after all station discounts and/or coupons deducted from the gross amount) charged to your UOB Visa/MasterCard/UnionPay Card only, there will be S$3 discount off the total purchases, which will allow the card member to save up to 5% discount.

American Express SPC Credit Card Discounts

American Express CardsSPC&U Members DiscountAmerican Express Card Savings American Express Card Rebate
For American Express Cards (excluding American Express Corporate Cards and American Express Cards issued by DBS, UOB and Citibank)10%5%7.1%

Terms & Conditions:

  • 5% savings is applicable when you charge your petrol purchase at any SPC service station to your American Express Card. Valid till 31 March 2020.
  • 7.1% Statement Credit promotion valid from 7 January to 31 December 2020. Limited to the first 50,000 registered Cards, up to S$150 statement credit.

Best Sinopec Petrol Credit Card Discounts

OCBC Sinopec Credit Card Discounts

OCBC CardsSpecial Onsite DiscountOCBC Card DiscountOCBC Cashback
OCBC 365 Credit Card18%2%5%
For other OCBC Credit or Debit Cards18%2%NA

Terms & Conditions:

  • Valid until 31 December 2020

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About Ruth Lum
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