All numbers are obtained from the respective fuel company’s websites, through speaking with representatives or via 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 (or planning to be one), you are going to want to read these:
- How Much Should You Be Earning Before You Buy A Car?
- The 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.
Earlier in January 2019, SINOPEC entered the fuel sector here in Singapore and came with raging low prices.
Today, it has (still just) two outlets islandwide in Yishun and Bukit Timah, with several comments on their social media asking for them to open more outlets other parts of Singapore. How do their fares compare against the rest?
Latest Petrol Price Comparison in Singapore: Shell vs Esso vs Caltex vs SPC vs Sinopec
| SHELL | ESSO | CALTEX | SPC | SINOPEC | |
|---|---|---|---|---|---|
| 92-Octane | N/A | N/A | S$2.21 | S$2.21 | N/A |
| 95-Octane | S$2.25 | S$2.25 | S$2.25 | S$2.25 | S$2.28 |
| 98-Octane | S$2.65 | S$2.62 | S$2.66 | S$2.59 | S$2.65 |
| Top Grade | V-Power: S$2.75 | N/A | N/A | N/A | SINO Power: S$2.78 |
| Diesel | S$1.86 | S$1.86 | S$1.86 | S$1.83 | S$1.89 |
| Credit Card Promotions | HSBC, Citibank, UOB | DBS, OCBC, Citibank | OCBC, Standard Chartered, HSBC, AA | POSB, DBS, UOB, AMEX | OCBC |
| Last Updated | 5/8/19 | 1/9/19 | 2/8/19 | 7/6/19 | 19/2/19 |
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 to use in Singapore when it comes to petrol perks and discounts!
P.S. You’re welcome!
Best Shell Petrol Credit Card Promotions
Citibank Shell Credit Card Promo
- Up to 20.88% savings with Citibank Cash Back Credit Card
- Up to 14% savings with other Citibank Credit Cards
HSBC Shell Credit Card Promo
- Up to 18.3% savings with HSBC Premier MasterCard Credit Card
- Up to 18.3% savings with HSBC Visa Platinum Credit Card
- Up to 14% savings with other HSBC Credit Cards
UOB Shell Credit Card Promo
- Up to 20.8% savings with UOB One Credit Card
- Up to 13.6% savings with other UOB Credit Cards
Best Caltex Petrol Credit Card Promotions
OCBC Caltex Credit Card Promo
- 16% fuel discount on Platinum 98
- 14% fuel discount on other grades of petrol and diesel
- 18% fuel discount with NTUC/OCBC Plus! Visa card
- Additional $10 rebate with a minimum $300 nett fuel spend at Caltex in a calendar month
HSBC, OCBC, Standard Chartered, AA and SAFRA Caltex Promo
- 14% off petrol/diesel
- 16% off Platinum 98 with Techron®
Best Esso Petrol Credit Card Promotions
Citibank Esso Credit Card Promo
- 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 Esso Credit Card Promo
- Up to 21.2% fuel savings with DBS Esso Credit Card
OCBC Esso Credit Card Promo
- 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 SPC Petrol Credit Card Promotions
DBS/POSB SPC Credit Card Promo
- Up to 15% fuel savings
UOB SPC Credit Card Promo
- Up to 24% fuel savings
American Express SPC Credit Card Promo
- 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 Sinopec Credit Card Promo
- 24% fuel savings with OCBC 365 Credit Card
- 20% fuel savings with other OCBC Cards
Cash, NETS, and Other non-OCBC Card Promo
- 18% fuel savings
Which Credit Card Is The Best For Petrol Discounts And Promos?
Have a question about credit cards for cars and petrol?
Why not ask our friendly community in our Seedly Q&A? Or if you already know what’s the best deal for your petrol credit card combo, why not share it with the rest and accumulate some good karma?
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