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.
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?
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
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!
| SHELL | ESSO | CALTEX | SPC | SINOPEC | |
|---|---|---|---|---|---|
| 92-Octane | N/A | S$2.31 | S$2.31 | S$2.31 | N/A |
| 95-Octane | S$2.35 | S$2.35 | S$2.35 | S$2.35 | S$2.32 |
| 98-Octane | S$2.74 | S$2.72 | S$2.77 | S$2.72 | S$2.69 |
| Top Grade | V-Power: S$2.91 | N/A | N/A | N/A | SINO Power: S$2.81 |
| Diesel | S$1.96 | S$1.95 | S$1.96 | S$1.95 | S$1.93 |
| Credit Card Promotions | HSBC, Citibank, UOB | DBS, OCBC, Citibank | OCBC, Standard Chartered, HSBC, AA | POSB, DBS, UOB, AMEX | OCBC |
| Last Updated | 10 December 2019 | 03 January 2020 | 10 December 2019 | 11 December 2019 | 27 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
Citibank Shell Credit Card Discounts
| Citibank Cards | Upfront Discount | Cashback | Total Savings |
|---|---|---|---|
| Citi Cash Back Card | 14% | Up to 8% | Up to 20.88% |
| For other Citi Credit Cards | 14% | NA | Up to 14.00% |
Terms & Conditions:
- Total minimum retail spend of S$888 per statement month required for 8% cashback.
- Excludes non-Singapore issued Credit cards and Citibank Corporate Cards.
HSBC Shell Credit Card Discounts
| HSBC Cards | Upfront Discount | Cash Rebate | Total Savings |
|---|---|---|---|
| HSBC Premier MasterCard Credit Card | 14% | 5% | Up to 18.30% |
| HSBC Visa Platinum Credit Card | 14% | Up to 5% | Up to 18.30% |
| For other HSBC Credit or Debit Cards | 14% | NA | Up to 14.00% |
Terms & Conditions:
- Excludes non-Singapore issued HSBC Credit / Debit Cards and HSBC Corporate Cards.
UOB Shell Credit Card Discounts
| UOB Cards | Upfront Discount | SMART$ Rebate | Cash Rebate | Total Savings |
|---|---|---|---|---|
| UOB One Credit Card | 10% | 7% | 5% | Up to 20.80% |
| For other UOB Credit Cards | 10% | 4% | NA | Up 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
OCBC Caltex Credit Card Discounts
| OCBC Cards | Fuel Type | Upfront Discount | Cash Rebate or LinkPoints |
|---|---|---|---|
| All OCBC Credit or Debit Cards with CaltexGO app | All types | 18% | NA |
| All OCBC Credit or Debit Cards | Platinum 98 | 16% | NA |
| Regular 92 | 14% | NA | |
| Premium 95 | |||
| Caltex Diesel | |||
| OCBC NTUC Plus! Visa Card | All types | 18% | 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 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% |
| Indoor Payment | Platinum 98 | 16% | Up to 5% | |
| Regular 92 | 14% | |||
| Premium 95 | ||||
| Diesel | ||||
| Outdoor Payment | Regular 92 | 16% | Up to 5% | |
| Premium 95 | ||||
| Platinum 98 | ||||
| Diesel | 14% | |||
| For other HSBC Credit or Debit Cards | CaltexGO Payment | All types | 16% | NA |
| Indoor Payment | Platinum 98 | 16% | NA | |
| Regular 92 | 14% | |||
| Premium 95 | ||||
| Diesel | ||||
| Outdoor Payment | Regular 92 | 16% | NA | |
| Premium 95 | ||||
| Platinum 98 | ||||
| Diesel | 14% |
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 Cards | Fuel Type | Upfront Discount | Rebates |
|---|---|---|---|
| For all Standard Chartered Debit Cards | Platinum 98 | 16% | NA |
| For all Standard Chartered Credit Cards | Platinum 98 | 16% | 5% |
| For all Standard Chartered Credit or Debit Cards | Regular 92 | 14% | 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 Cards | Fuel Type | Upfront Discount |
|---|---|---|
| Automobile Association of Singapore (AA) Membership Card & SAFRA Card | Regular 92 | 14% |
| Premium 95 | ||
| Caltex Diesel | ||
| Platinum 98 | 16% |
Terms & Conditions:
- Valid from 1 January 2019 to 30 June 2020
Best Esso Petrol Credit Card Discounts
Citibank Esso Credit Card Discounts
| Citibank Cards | Esso Station Discount | Esso Smiles Card Discount | Citi Card Discount | Citi Cash back |
|---|---|---|---|---|
| Citi Cash Back Card | 5% | 5% | 4% | 8% |
| For other Citi Credit Cards | 5% | 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 Cards | Upfront Discount | Additional Fuel Savings | Smiles Savings |
|---|---|---|---|
| DBS Esso Card | 18% | $7 fuel savings with min. $180 nett fuel spend | 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, 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 Cards | Esso Smiles Card Discount | Esso Station Site Discount | OCBC Card Discount | OCBC Rebate | Esso Smiles Points |
|---|---|---|---|---|---|
| OCBC NTUC Plus! Visa Credit Card or Debit Card | 5% | 5% | 4.2% | 4.3% | Up to 2.3% |
| OCBC Plus! Visa Credit Card or Debit Card | |||||
| OCBC 365 Credit Card | 5% | 5% | 4% | 4.3% | Up to 2.3% |
| For other OCBC Credit or Debit Cards | 5% | 5% | 4% | NA | Up 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
DBS/POSB SPC Credit Card Discounts
| 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% | 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 Cards | SPC&U Members Discount | UOB Card Discount | Additional Petrol Savings |
|---|---|---|---|
| For UOB Visa, MasterCard, and UnionPay Credit Cards | 10% | 5% | 5% |
| For UOB American Express Credit Cards | 10% | 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 Cards | SPC&U Members Discount | American 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 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% | NA |
Terms & Conditions:
- Valid until 31 December 2020
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