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 101 things to consider (mostly costs) that help you decide if you really need and can afford a 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

 SHELLESSOCALTEXSPCSINOPEC
92-OctaneN/AS$1‬.‬9‬8S$2‬.‬0‬2S$1‬‬‬‬.‬‬‬‬9‬‬‬‬5N/A
95-OctaneS$2.06S$2‬‬‬‬.‬‬‬‬0‬‬‬‬2S$2‬‬‬‬‬‬.‬‬‬‬‬‬0‬‬‬‬‬‬6S$1‬‬‬.‬‬‬9‬‬‬9S$2‬.‬0‬2
98-OctaneS$2.47S$2‬‬‬‬.‬‬‬‬3‬‬‬‬9S$2‬.‬6‬1S$2‬‬‬.‬‬‬3‬‬‬3S$2‬‬‬.‬‬‬3‬‬‬9
Top GradeV-Power:
S$2.69
N/AN/AN/ASINO X Power:
S$2.55
DieselS$1.73S$1‬‬‬.‬‬‬7‬‬‬0S$1‬‬‬‬.‬‬‬‬7‬‬‬‬3S$1‬‬‬‬.‬‬‬‬6‬‬‬‬7S$1‬‬‬‬.‬‬‬‬7‬‬‬‬0
Price As of17 September 20202‬6‬ ‬A‬u‬g‬u‬s‬t‬ ‬2‬0‬2‬0‬1‬‬‬‬‬‬6‬‬‬‬‬‬ ‬‬‬‬‬‬S‬‬‬‬‬‬e‬‬‬‬‬‬p‬‬‬‬‬‬t‬‬‬‬‬‬e‬‬‬‬‬‬m‬‬‬‬‬‬b‬‬‬‬‬‬e‬‬‬‬‬‬r‬‬‬‬‬‬ ‬‬‬‬‬‬2‬‬‬‬‬‬0‬‬‬‬‬‬2‬‬‬‬‬‬0‬‬‬‬‬‬1‬‬‬‬9‬‬‬‬ ‬‬‬‬J‬‬‬‬u‬‬‬‬n‬‬‬‬e‬‬‬‬ ‬‬‬‬2‬‬‬‬0‬‬‬‬2‬‬‬‬0‬‬‬‬2‬‬‬7‬‬‬ ‬‬‬A‬‬‬u‬‬‬g‬‬‬u‬‬‬s‬‬‬t‬‬‬ ‬‬‬2‬‬‬0‬‬‬2‬‬‬0
Credit Card PromotionsHSBC, Citibank, UOBDBS, OCBC, CitibankOCBC, Standard Chartered, HSBC, AAPOSB, DBS, UOB, AMEXOCBC

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.

From 1 August to 30 September 2020, you can get S$40 worth of Shell fuel e-vouchers with a minimum nett spend of S$450 on Citi credit cards.

Citi shell savings
Source: Shell

HSBC Shell Credit Card Discounts

HSBC credit cardholders can earn 1 Shell Escape point for every $5 charged to your HSBC credit cards and get 20% more Shell Escape points when you pump Shell V-power.

Valid till 31 December 2020

UOB Shell Credit Card Discounts

UOB CardsUpfront DiscountSMART$ RebateCash RebateTotal Savings
UOB One Credit Card17%7%5%Up to 26.96%
For other UOB Credit Cards18%4%NAUp to 21.28%

Enjoy up to 5% cash rebate based on a spend of S$2,000 monthly for each qualifying quarter with minimum 5 purchases monthly to earn the quarterly cash rebate of S$300.

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.

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%Additional $7 cash rebate, 0.2% LinkPoints rebate for every $1 charged, and earn 3 LinkPoints for every litre of fuel purchased
OCBC Plus! Visa Credit Card

Terms & Conditions:

  • Valid till 31 December 2020
  • $7 cash rebate will be credited by bank with a minimum spend of $300 Caltex fuel purchase in each calendar month

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 9214%NA
Premium 95
Platinum 98
Diesel
For other HSBC Credit or Debit CardsCaltexGO PaymentAll types16%NA
Indoor PaymentPlatinum 9816%Up to 5%
Regular 9214%
Premium 95
Diesel
Outdoor PaymentRegular 9214%NA
Premium 95
Platinum 98
Diesel

Terms & Conditions:

  • Valid till 31 December 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 Credit or Debit CardsPlatinum 9816%5%
For all Standard Chartered Credit or Debit CardsRegular 9214%5%
Premium 95
Diesel

Terms & Conditions:

  • Valid till 31 December 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 till 31 December 2020

Best Esso Petrol Credit Card Discounts

Citibank Esso Credit Card Discounts

Citibank CardsEsso Station DiscountEsso Smiles Card DiscountCiti Card DiscountCiti Cash backTotal Savings
Citi Cash Back Card5%5%4%8%20.88%
For other Citi Credit Cards5%5%4%NA14%

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% cashback, 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%3.2% Up 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
  • 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 Rebate
OCBC NTUC Plus! Visa Credit Card or Debit Card5%5%6%4.3%
OCBC Plus! Visa Credit Card or Debit Card
OCBC 365 Credit Card5%5%4.2%
For other OCBC Credit or Debit Cards5%5%4%NA

Terms & Conditions:

  • To qualify for the 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 2.4% 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 till 30 September 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
UOB One Card10%5%5%
All other UOB Credit/ Debit Cards
10%5%NA

Terms & Conditions:

  • Valid till 31 December 2020
  • 5% discount is applicable when you charge your petrol purchase to UOB One Card with a minimum $2,000 retail spend per statement month per qualifying quarter
  • 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
Registered American Express Card10%5%7.1%
Non-Registered American Express Card10%5%NA

Terms & Conditions:

  • Valid till 31 December 2020
  • 7.1% statement credit promotion is limited to the first 50,000 registered cards, up to S$150 statement credit
  • 5% savings is applicable when you charge your petrol purchase at any SPC service station to your American Express Card
  • Excluding American Express Corporate Cards and American Express Cards issued by Citibank Singapore Limited, DBS Bank Ltd and United Overseas Bank Limited

Best Sinopec Petrol Credit Card Discounts

Exclusively at Bukit Timah Sinopec

You can get 23% instant savings off your fuel purchase at Bukit Timah station. Promotion cannot be combined with other promotional offers.

Offer is valid from 31 August (23:01) till 30 September (23:00) at Sinopec Bukit Timah petrol service station (Address: 623A Bukit Timah Road, Singapore 269733)

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

About Ruth Lum
Breaking down 'chim' finance knowledge into manageable pieces so you don't have to.
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