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Petrol expenses & discounts

Terry7322

By Terry7322,
in General Car Discussion

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Terry7322

Terry7322

1st Gear
(edited)

Hi guys,

 

A quick check on how muXh you spend on petrol (brand) and the discounts per car per month.

 

As the highest recurring expense in owning a car. How much are we actually spending on petrol during the years we own a car.

 

For me, I pump with a company fleet card.

 

Esso98 (brand) 65litres (full tank X 4/mth ) 13% (fleet card)

 

Projected petrol expenses per year = $5971.68 @ $2.2/litres

 

How about yours?

Edited by Terry7322
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Yslim79

Yslim79

4th Gear

 

 

Eh ur coy fleet card discount abit low ley ...

 

My coy got 2 fleet cards, shell at 16% , esso at 17%

 

I pump shell98, estimate 4k per year on petrol...

 

Btw, petrol nt necessarily the highest recurring expense for car ownership ...

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Runforyourlife

Runforyourlife

5th Gear

All is good guys, all is good :D

 

 

SINGAPORE – For the most popular petrol grade sold in Singapore, consumers in 2014 got an average of about 18 per cent off the listed price because of site discounts, loyalty programmes and credit card payments.

Taking that and the levy increase in February 2015 into account, the effective price that consumers paid for Octane 95 petrol fell by S$0.45, implying a pass-through of over 85 per cent, said Minister of State (Trade and Industry) Dr Koh Poh Koon in Parliament on Monday (Feb 29).

 

Dr Koh was responding to questions from Dr Lee Bee Wah (Nee Soon GRC), Mr Lim Biow Chuan (Mountbatten SMC) and Mr Ang Wei Neng (Jurong GRC) on petrol prices, following the Competition Commission of Singapore (CCS)’s findings released last week that there is no evidence of collusion between the four players here to fix prices.

 

The CCS had found that the four petrol companies — Caltex, Esso, Shell and Singapore Petroleum Company (SPC) — do not base their pump rates on prices of crude oil, or unrefined oil. Instead they use Mean of Platts Singapore (MOPS) price, which refers to the cost at which they purchase refined wholesale petrol from refineries. MOPS price tends to be more expensive than crude oil as it includes the cost of refining the crude oil into wholesale petrol.

 

Between June 2014 and January 2016, the price of crude oil dropped by S$0.59 on average, MOPS price fell by $0.52 and the listed price for Octane 95 petrol fell by $0.35.

 

While the pass-through was relatively high at around 70 per cent, it was not complete due to non-fuel components, which make up more than two-thirds of the listed retail petrol price.

 

Last week, the CCS said that a study into the retail petrol market commissioned last year showed that retail prices for Octane 95 petrol moved in tandem with Mean of Platts Singapore (MOPS) prices between Jan 1, 2010 and Jan 31, 2016.

 

There was no significant variation between the time taken to raise or lower listed prices for Octane 95 petrol in response to changes in MOPS prices. The magnitude of change in Octane 95 petrol listed prices relative to the change of MOPS prices was also observed to be the same whether MOPS prices increased or decreased, Dr Koh added.

 

In a supplementary question, Mr Low Thia Khiang (Aljunied GRC) asked if petrol companies were profiteering at the expense of consumers. Dr Koh replied that while petrol companies do make profits, he does not think they are doing so at the expense of consumers “as long as the profit they make is not in excess of what is the reasonable margin that other similar petrol companies make over the same time period”.

 

 

 

http://www.todayonline.com/singapore/consumers-get-18-cent-listed-price-petrol-because-discounts-and-rebates

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Wt_know

Wt_know

Supersonic
(edited)

no additional site discount - i got no sihum card

no loyalty programmes - i pump here and there and not always with 1 brand

no credit card payment - i like to pay cash ... cannot ar?

 

it's not fair that oil cartel is not giving the "true" pump price but hiding in all smlj discounts and rebates

 

is this the open and transparency standard you aiming? Dr Koh ... what say you?

 

SINGAPORE – For the most popular petrol grade sold in Singapore, consumers in 2014 got an average of about 18 per cent off the listed price because of site discounts, loyalty programmes and credit card payments
Edited by Wt_know
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Kusje

Kusje

Supersonic
(edited)

 

 

Between June 2014 and January 2016, the price of crude oil dropped by S$0.59 on average, MOPS price fell by $0.52 and the listed price for Octane 95 petrol fell by $0.35.

 

MOPS fell by $0.52.

Listed price fell by 0.35.

 

If we take into account the 18% discount/rebate, there's still a difference of roughly 12 cents excess profit to the petrol stations.

 

All this is already independent of the other costs!

 

But I do agree with the conclusion that there is no collusion as the petrol station market is oligopoly (read up on the characteristics of a oligopoly).

Edited by Kusje
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Weez911

Weez911

Supersonic

Give up lah, nobody is able to hurt the petrol companies in Singapore, not even the govt.

 

The earlier we acknowledge this and move on, the better it is for all.

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Wt_know

Wt_know

Supersonic
(edited)

cant beat them ... join them and take 12-18 months bonus eh ... :grin:

 

Give up lah, nobody is able to hurt the petrol companies in Singapore, not even the govt.

 

The earlier we acknowledge this and move on, the better it is for all.

 

Edited by Wt_know
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Kb27

Kb27

Supersonic
(edited)

And why don't oil companies simply reduced their price by 18% ?

 

Obviously, they are not willing to.

 

Making as much profit as possible is their no. 1 goal.

 

If there's real competition, that oil company would have simply quote a lower final price without all the nonsense rebates, discounts.

 

"Discount" are numbers to entice consumers while keeping the price high.

Edited by Kb27
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Etnt

Etnt

Turbocharged

And why don't oil companies simply reduced their price by 18% ?

 

Obviously, they are not willing to.

 

Making as much profit as possible is their no. 1 goal.

 in b4 what's wrong with making more money quote.

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Alg

Alg

5th Gear

Some Singaporeans are really funny. They actually voted in these kind of people. And then KPKB. But still buy their sweet talks every 5 yrs, then repeat the whole cycle.

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Loo

Loo

2nd Gear

Full of crap- how to define reasonable profit?????????????

I thought only caltex and spc buy from refinery. Shell n esso has their own refineries.

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Vid

Vid

Hypersonic

Why no one dare to point out the elephant in the  parliament room?

 

The petrol duties that is being instilled upon each litre of petrol sold?

 

So now you understand why Tesla pulled out of Singapore market. :that-dood-is-up-to-something:

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