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.
We analyzed the　costs of getting a car　in another article and now look at fuel prices in Singapore, which are known to be notoriously higher than in most other countries.

Image credit:　Alphonsus Chern, ST
Unbeknownst to many,　SINOPEC　is the second Chinese firm after PetroChina to enter the fuel sector here in Singapore.
Amongst the existing fuel companies like Caltex, Esso, Shell and SPC, SINOPEC’s entrance to Singapore could point to more competitive petrol prices as they have been known to slash prices and give high discounts – although this has been refuted by many citing that petrol prices are heavily controlled and moderated here.
Fun fact:　Sinopec is no stranger to Singapore. The company opened its first Lubricant Plant here back in 2013.
Latest Petrol Prices in Singapore: Shell vs Esso vs Caltex vs SPC vs Sinopec As we await the grand opening of its first (out of two) outlets here in Singapore, here’s how the petrol prices compare against each other.
　 SHELL ESSO CALTEX SPC SINOPEC 92-Octane N/A S$2.27 S$2.24 S$2.24 T.B.A 95-Octane S$2.28 S$2.31 S$2.28 S$2.28 T.B.A 98-Octane S$2.61 S$2.62 S$2.65 S$2.58 T.B.A 98-Octane (V-Power) S$2.82 N/A N/A N/A T.B.A Diesel S$1.82 S$1.83 S$1.80 S$1.80 T.B.A Credit Card Promotions Citibank, UOB, HSBC DBS, OCBC, Citibank OCBC, Standard Chartered, HSBC POSB, DBS, UOB, AMEX T.B.A Last Updated 16/11/2018 16/11/2018 16/11/2018 16/11/2018 - 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). The latest Budget 2018 revealed that there will not be additional carbon taxes imposed on petrol, diesel and compressed natural gas.
LTA levies a　special tax　on diesel 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 the convenience of Singaporeans, we managed to compile a list of the best credit cards to use in Singapore when it comes to petrol perks and discounts.
Best Credit Card Promotions at　ShellCitibank Up to 20.88% savings with　Citibank Cash Back Credit Card

Up to 14% savings with　other Citibank Credit Cards　
HSBC Up to 19.16% savings with　HSBC Premier MasterCard Credit Card
Up to 18.30% savings with　HSBC Visa Platinum Credit Card
Up to 14% savings with other　HSBC Credit Cards　
UOB
Up to 20.8% savings with　UOB One Credit Card
Up to 13.6% savings with　other UOB Credit Cards
Best Credit Card Promotions at　CaltexHSBC Credit Cards
16% fuel discount + up to 5% cash rebate
OCBC Credit Cards
16% fuel discount on Platinum 98
14% fuel discount on other grades of petrol and diesel
18% fuel discount with the　NTUC/OCBC Plus! Visa Card
Additional $10 rebate with a minimum $300 nett fuel spend at Caltex in a calendar month
Standard Chartered
Up to 25% savings on 98-Octane with the　Visa Infinite Credit Card
Up to 19.7% in fuel savings
Best Credit Card Promotions at　EssoCitibank
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
Up to 27.6% fuel savings with　DBS Esso Credit Card OCBC
Up to 20.6% fuel savings with　OCBC Plus! Visa Credit Card
Up to 20.4% fuel savings with　OCBC 365 Credit Card Best Credit Card Promotions at　SPCPOSB Up to 20.1% fuel savings with　POSB Everyday Credit Card
UOB Up to 24% fuel savings with　UOB One Credit Card
Best Credit Card Promotions at Sinopec To be advised.　Watch this space!　
Sinopec is said to be open for business soon at 2 locations in Singapore, and construction has already completed at the Yishun site.
You will hear about the rates and promotions here　first　once they are released. Stay tuned!


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