(NEW IN: SINOPEC) Ultimate Comparison of Petrol Prices and Credit Card Promotions

Jan 2019 Update: We’re pumped(pun intended) to bring you this updated comparison because SINOPEC Yishun has officially opened its doors!

All numbers obtained from the respective fuel company’s website, through speaking with a representative or social media posts.

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.

If you’re a driver, you are going to want to read these:

• Costs of getting a car
• Free parking spots in Singapore

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

Image credit: Sinopec Official Facebook Page

Unbeknownst to many, SINOPEC is the second Chinese firm after PetroChina to enter the fuel sector here in Singapore.

Sinopec’s entrance to Singapore seems to have caused seems to have made the existing fuel companies like Caltex, Esso, Shell and SPC bring down their prices too, as shown in the table.

Fun fact: Sinopec is no stranger to Singapore. The company opened its first Lubricant Plant here back in 2013.

Latest Petrol Price Comparison in Singapore: Shell vs Esso vs Caltex vs SPC vs Sinopec (Newly Opened)

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). The latest Budget 2018 revealed that there will not be additional carbon taxes imposed on petrol, diesel and compressed natural gas.

LTA levies a special tax on diesel 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 the convenience of Singaporeans, these are the best credit cards to use in Singapore when it comes to petrol perks and discounts.

Best Credit Card Promotions at Shell

• Citibank

Up to 20.88% savings with Citibank Cash Back Credit Card

Up to 14% savings with other Citibank Credit Cards 

• HSBC

Up to 19.16% savings with HSBC Premier MasterCard Credit Card

Up to 18.30% savings with HSBC Visa Platinum Credit Card

Up to 14% savings with other HSBC Credit Cards 

• UOB
  

Up to 20.8% savings with UOB One Credit Card

Up to 13.6% savings with other UOB Credit Cards

Best Credit Card Promotions at Caltex

• OCBC Credit Cards
  

16% fuel discount on Platinum 98

14% fuel discount on other grades of petrol and diesel

18% fuel discount with the

Additional $10 rebate with a minimum $300 nett fuel spend at Caltex in a calendar month

• HSBC, OCBC, Standard Chartered, AA, SAFRA

14% off petrol/diesel

16% off Platinum 98 with Techron®

Best Credit Card Promotions at Esso

• Citibank
  Up to 20.88% fuel savings with Citibank Cashback and Esso Mobil Credit Cards
  Up to 14% fuel savings with other Citibank Credit Cards

• DBS
  Up to 21.1% fuel savings with DBS Esso Credit Card (not updated for 2019 yet)

• OCBC

Up to 20.6% fuel savings with OCBC Plus! Visa Credit Card

Up to 20.4% fuel savings with OCBC 365 Credit Card

Up to 14% fuel savings with OCBC Credit / Debit Cards

Best Credit Card Promotions at SPC

• DBS/POSB

Up to 15% fuel savings

• UOB

Up to 20% fuel savings

• Amex

Up to 21% fuel savings excluding American Express Corporate Cards and American Express Cards issued by DBS, UOB and Citibank

Best Credit Card Promotions at Sinopec

• OCBC
  24% fuel savings with OCBC 365 Credit Card
  20% fuel savings with other OCBC Cards

• Cash, NETS, other non-OCBC cards
  18% fuel savings

Sinopec’s second outlet is located at Bukit Timah and is said to open soon as well.

Have a question about credit cards for cars and petrol? See what the community is discussing about!

“What’s the best petrol credit card for a light car user (8-10k km per month)? Just cancelled my OCBC Plus card…” Read More.

Become A Prodigy!

Are you game to level up to level 4 and take home a S$10 Grab Voucher?
Start leaving your mark here!

SHOW US SOME LOVE! If you like what you've read, join us on our personal finance journey at Facebook and Telegram!