Pump Price Increased! (After petrol duty hike)

On 23^rd February 2015, the Singapore Government announced a hike in the petrol duty in the Singapore Budget 2015. The increase for premium grade petrol and intermediate grade petrol was $0.20 and $0.15 respectively, from $0.44 and $0.41 previously. Thus, the final petrol duty rate for premium and intermediate petrol grade become $0.64 and $0.56 respectively.

The sudden increase in petrol duty caused a large ripple or tsunami across the petrol companies in Singapore, namely, Caltex, Esso, Shell and SPC and they all scrambled to increase their pump prices after the stroke of midnight on the announcement day.

Pump Prices prior to increase in petrol duty

	Caltex	Esso	Shell	SPC
Ron 92	$1.82	$1.82	NA	$1.81
Ron 95	$1.86	$1.86	$1.86	$1.85
Ron 98	$2.05	$2.02	$2.03	$1.99
Premium	NA	NA	$2.40	NA

Pump prices just after increase in petrol duty

	Caltex	Esso	Shell	SPC
Ron 92	$2.00 (+$0.18)	$1.98 (+$0.16)	NA	$1.97 (+$0.16)
Ron 95	$2.04 (+$0.18)	$2.02 (+$0.16)	$2.04 (+$0.18)	$2.01 (+$0.16)
Ron 98	$2.28 (+$0.23)	$2.23 (+$0.21)	$2.28 (+$0.25)	$2.20 (+$0.21)
Premium	NA	NA	$2.65 (+$0.25)	NA

Well, as you can see from the tables above, the increase in petrol duty for premium grade petrol and intermediate grade petrol was only $0.20 and $0.15 respectively BUT the increase in actual pump prices ranged from $0.16 to $0.25! Where is the justification for the absurd increment?

Let me tell and show you why.

Listen.

The reason is, the hike in petrol duty eats into the petrol companies’ profit margin, if they should increase exactly the increased amount.

Now look.

By now, everyone should know that petrol companies here all offer 5% site discount if you are their member and holding their cards namely, Shell Escape, Caltex Thanks!, Esso Smiles, SPC&U.

In addition, all petrol companies also tied up with banks to give further discounts ranging from 5% to 10% should you make payment with their credit cards.

Let’s compare the profit margin of petrol companies before and after hike in petrol duty, using Caltex Ron 95 and Ron 98 and payment by UOB credit card (less 14% discount) for comparison.

Before the hike in petrol duty

	Pump Price (a)	Less 14% discount (b)	Duty before hike (c)	Final Price (a)-(b)-(c)	Remarks
Ron 95	$1.86	$0.2604	$0.41	$1.1896
Ron 98	$2.05	$0.287	$0.44	$1.323

After the hike in petrol duty

	Pump Price (a)	Less 14% discount (b)	Duty before hike (c)	Final Price (a)-(b)-(c)	Remarks
Ron 95	$2.04	$0.2856	$0.56	$1.1944	Increase in profit
Ron 98	$2.28	$0.3192	$0.64	$1.3208	Decrease in profit

If petrol companies increased the price by only $0.15 and $0.20

	Pump Price (a)	Less 14% discount (b)	Duty before hike (c)	Final Price (a)-(b)-(c)	Remarks
Ron 95	$2.01	$0.2814	$0.56	$1.1686	Decrease in profit
Ron 98	$2.25	$0.315	$0.64	$1.295	Decrease in profit

So as you can see, if the petrol companies were to increase exactly the same value as the increase in petrol duty, they will suffer a great loss! How can we let our mighty petrol companies suffer a loss? How can we let the increase in petrol duty eat into their big fat salary and bonuses?

So to be fair to them, we have to let them increase the price more than the increase in petrol duty! 

Justified! right?

Tags: Singapore Budget 2015, increase, hike, petrol duty, $0.15, $0.20, Caltex, Esso, Shell, SPC

Get 18.52% savings with ANZ StarCash at Caltex!

Get up to 18.52% savings plus a set of hong baos and mandarin orange carrier with purchase of the ANZ StarCash Card at Caltex from 1 - 28 February 2015. While stocks last!

This is the highest discount you can get from Caltex which is fussfree without minimum sum to meet monthly/quarterly!

Pay with ANZ Travel Visa Signature to get the most savings! And you still get Thanks! points when you use the card to pump petrol!


Price of StarCash: $500.00
Price paid: $418.00
Discount: $82.00
Travel$ earned by using ANZ Travel VS: 585 (equivalent to $10.63 as 550 Travel$ = $10)
Total discount: 18.52%

More information here!

Terms and Conditions (Some may not be applicable!)
The listed offers are valid for ANZ Credit Cards issued in Singapore only and calculated based on the following:

1. Premium 95 with Techron at a prevailing pump price of S$2.24 per litre. 40 Thanks! points equivalent to S$1.00. For details of the Thanks! points programme, visit www.caltex.com/sg/products-and-services/thanks-rewards-programme/benefits/
2. 1 ANZ Rewards Points will be issued for every S$5 charged on all other Rewards Points earning ANZ Credit Cards. ANZ Platinum & Switch Platinum Credit Cardmembers who have registered for the ANZ 6X Rewards Programme will receive additional bonus 5 ANZ Rewards Points for every S$5 charged on their Credit Cards, subject to a cap of 7,800 bonus ANZ Rewards Points per calendar month.
3. 2 ANZ Rewards Points for every S$5 charged on ANZ Signature Priority Banking Credit Cards. ANZ Signature Priority Banking Credit Cardmembers who have registered for the ANZ 6X Rewards Programme will receive additional bonus 4 ANZ Rewards Points for every S$5 charged on their Credit Cards, subject to a cap of 7,800 bonus ANZ Rewards Points per calendar month.
4. 500 ANZ Rewards Points are required to redeem S$10 Caltex Petrol Voucher via the ANZ Rewards Programme.
5. 1.4 Travel$ will be issued for every dollar spent on ANZ Travel Visa Signature Credit Card. Cardmembers will also enjoy savings based on Thanks! points at a similar rate as (a).

• ANZ StarCash prepaid card (the "StarCash Card") is issued by Chevron Singapore Pte. Ltd. ("Chevron") and the use of the StarCash Card shall be governed by the terms and conditions set out on www.caltex.com.sg
• The StarCash Card is valid for 12 months from date of purchase and is on sale at all Caltex service stations in Singapore, except Caltex Braddell, Caltex East Coast, Caltex Sembawang and Caltex Upper Thomson.
• The StarCash Cards are available while stocks last.
• The StarCash Card must be purchased with an ANZ Credit Card (excluding corporate cards) to enjoy the discounted price.
• The StarCash Card carries a stored value of S$200 at the time of purchase and can only be used for fuel purchases at all Caltex service stations in Singapore.
• The StarCash Card cannot be used for StarMart or other store purchases at Caltex service stations. Fuel purchases paid with the StarCash Card shall not be entitled to any site discount or discount programs or other privileges/promotions.
• No Caltex Thanks! points will be issued for the purchase of the StarCash Card.
• Thanks! points may be awarded for qualifying fuel purchases made with the StarCash Card, subject to the Caltex Thanks! Cardholder terms and conditions.
• The StarCash Card cannot be topped-up, refunded for cash, rewards points or exchanged for any other products and services other than its intended purpose.
• If the monetary value of Cardmember's fuel purchase exceeds the remaining value on the StarCash Card, the Cardmember must make the balance payment using an ANZ Credit Card.
• ANZ is not an agent of Chevron.
• Any dispute between Cardmember and Chevron, in respect of the StarCash Card, shall be resolved directly between Cardmember and Chevron.
• ANZ and Chevron shall not be liable to Cardmember for any loss and/or cost of damages of any kind resulting from the use of the StarCash Card.
• ANZ and Chevron reserve the right to vary, delete or add to any of these terms and conditions from time to time or to suspend or terminate the Promotion at any time.
• Caltex StarCash full terms and conditions apply. For StarCash Terms and Conditions, click here for more details.

Hurry to Caltex and get your StarCash Card now!



Tags: ANZ Travel Visa Signature, StarCash, Caltex, Techron, CNY, hong bao

ESSO Vouchers Giveaway - S$5.00 off S$50.00 gross fuel purchase!

Giveaway has ended!

Post updated with payment by OCBC 365 CC.

A booklet of Esso vouchers!

S$5.00 off synergy fuel with purchase of S$50.00 gross fuel!

Terms and conditions

The vouchers are valid from 1 Dec 2014 to 31 Dec 2015! 

Yes! You did not see wrongly! Your monitor is not faulty as well!

The vouchers are valid for a whole 13 months!!! Total of 52 vouchers in the booklet!

And the vouchers can be used in any ESSO station!

Yes! You did not see this wrongly as well!

There are 4 vouchers given for every single month, starting from 1 Dec 2014 and the last batch of vouchers are valid till 31 Dec 2015! Each voucher gives you S$5.00 off S$50.00 gross fuel purchase! So you get to save S$20.00 using the vouchers alone!
Use the vouchers together with the DBS Esso Platinum to get the maximum discount without fuss!

DBS Esso Platinum

S$50.00 - 17% - S$5.00 = S$36.50 (27% discount! And FUSS FREE)

Citibank Dividend

If you only pump petrol at Esso, you will need to pump S$64.00 gross to be entitled to 5% Citibank Dividend cash rebate. (Requires minimum of S$50.00 to be charged to your Citibank Dividend CC)

S$64.00 - 14% - S$5.00 = S$50.04 - 5% = S$47.54 (25.73% discount)

If you purchase a booklet of parking coupons everytime you pump at Esso, you only need to pump S$52.40 gross petrol:

S$52.40 - 14% - S$5.00 =  S$40.06 - 5% = S$38.06 (27.37% discount) 
Note: 5% cash rebate still applicable because you charged a total of S$50.06 (petrol + parking coupon) to your Citibank Dividend CC.

OCBC 365 CC

S$50 - 14% - $5 - 5% = S$36.10 (27.8% HIGHEST DISCOUNT!)
Note: You have to accumulate $600 every month on this card before you can get the 5% cash rebate 




Tags: Esso, $5.00 discount, voucher, Hougang Avenue 3