Frequently Asked Questions

Q: What factors affect petrol prices in Singapore?

There are a couple of factors you'll have to look at: Price of crude oil Petrol taxes Cost of refining crude oil Running cost of petrol stations Profit margins Marketing costs for said petrol stations Inflation Supply & Demand While we're not privy to other hidden factors within the industry, the list above can help you determine how much you're paying for petrol.

Question 1

What factors affect petrol prices in Singapore?

Accepted Answer

There are a couple of factors you'll have to look at:

Price of crude oil
Petrol taxes
Cost of refining crude oil
Running cost of petrol stations
Profit margins
Marketing costs for said petrol stations
Inflation
Supply & Demand

While we're not privy to other hidden factors within the industry, the list above can help you determine how much you're paying for petrol.

Question 2

Which is the best petrol credit card in Singapore?

Accepted Answer

There is no 'best credit card for petrol' in Singapore.

It all boils down to your monthly spending habits and which petrol station you frequent.
Different cards can get you different discounts based on their minimum card spending requirements.

Here are the best petrol savings cards and their respective discounts:

Citibank Cash Back card – 20.88% petrol discounts at Esso and Shell stations.

OCBC 365 –20.2% and 26.8% petrol discounts at Esso and Sinopec stations, respectively.

UOB One Card – 21.15% and 24% petrol discounts at Shell stations and SPC, respectively

POSB Everyday Card – 20.1% petrol discounts at SPC stations

Question 3

Is the listed price (a.k.a. pump price) the price I pay for my petrol?

Accepted Answer

No. Petrol stations in Singapore typically give out loyalty card discounts, which can shave 5%-10% off the pump price. You also need to factor in your credit card discounts (if any), which could effectively give you a total savings of up to 20%, depending on the card promotions.

Question 4

How do I calculate the petrol credit card discounts I can enjoy?

Accepted Answer

Let's take the Citibank Cash Back Card used at Shell as an example, which offers 20.88% in savings:

5% Shell site discount + 5% Shell Escape discount + 4% Citi card discount + 8% cashback (on nett purchase after discounts) = Total of 20.88% savings effectively*

Assuming the cost of petrol at the pump is $100,

On-site discounts:
- 5% Shell site discount
- 5% Shell Escape discount
- 4% Citi card discount
Nett purchase price after on-site discounts (-14%): $86.00
8% cashback (on nett purchase) = $6.88 savings applied on card
Total effective savings: $20.88

*The card offers a base cashback rate of 0.25% on all petrol transactions. An additional 7.75% cashback will be applied to your petrol transactions if you spend at least S$800 on your card per statement month. [Information correct as of 27 Aug 2021]

Question 5

What is the difference between 92, 95, 98 and premium petrol?

Accepted Answer

Octane ratings represent the fuel's ability to resist pre-ignition (also known as 'knocking'). Commonly referred to as the Research Octane Number (RON), the higher the octane number, the better it prevents knocking.

Most cars run on 95 octane petrol, but some cars need higher octane fuel (98) because it runs on a higher-compression gasoline engine which yields more power.

To find out which octane petrol you should use - check your car's user manual to find out the recommended octane petrol for your car.

	Best Petrol Savings Card	Diesel	92	95	98	Premium
Caltex	More Info	S$2.79	S$2.98	S$3.03	N.A	S$3.69 (Platinum 98)
Esso	More Info	S$2.74	S$2.89 Regular	S$2.94 Extra	S$3.41 (Synergy Supreme+)	N.A
Shell	More Info	S$2.79	N.A	S$3.03	S$3.51	S$3.74 (Shell V-Power)
SPC	More Info	S$2.68	S$2.86	S$2.90	S$3.38	N.A
Sinopec	N.A.	S$2.73	N.A	S$2.94	S$3.41	S$3.54 (SINO X Power)