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The Cost of Different Types of Petrol for Rental Cars in Singapore

The decision on whether to decide on long term car rental vs car ownership is a complicated one, with many considerations to be had. Other than the high COE prices, one has to consider the different forms of expenses that come with renting a car.
Drivers typically have to spend around $4,800 per year on petrol costs for a single car. And as a car rental customer, even though it may be a fraction of that price, you want to stretch the bang for one’s buck and understand what you are paying for each time you decide on which petrol pump – the green, blue or red. This is especially important for long term car rental customers as the costs adds up in the long run.
Adding on to your previous article on “8 Fuel-Efficient Tips for the Singapore Driver”, we would like to provide a breakdown of the different types of petrol offered at petrol kiosks.

The Process of Fuelling for Car Rental Services in Singapore

For most car rental companies providing car rental services in Singapore, customers are provided with a full tank of petrol upon car rental. Upon car rental, customers are generally required to top up according to their usage of the rental car. They are also required to return the rental car with a full tank of petrol. Hence, petrol prices from various petrol companies could be something to be looked into deeper. Here are the latest petrol pump prices (before any discounts and/or savings):

LATEST PETROL PUMP PRICES

[Before Discounts & Savings]

Shell Esso Caltex SPC Sinopec
92-Octane NIL S$1.98 S$2.01 S$1.95 NIL
95-Octane S$2.02 S$2.02 S$2.05 S$1.99 S$2.02
98-Octane S$2.47 S$2.39 S$2.64 S$2.33 S$2.43
Diesel S$1.70 S$1.70 S$1.73 S$1.67 S$1.70
Others V-Power: S$2.69 NIL NIL NIL Sino X Power: S$2.59

[Prices as of 24/11/20]

It may not seem like much, but the cents add up. Singapore’s oil prices are significantly higher than other neighbouring countries, mostly due to fuel excise tax as the state has imposed to discourage the use of personal vehicles, ($0.41/litre for 92-Octane and 95-Octane and $0.44/litre for 98-Octane). A whopping ~20% tax on each litre of petrol pumped!

Comparing Petrol Prices

The more popular petrols are the 95-Octane and the 98-Octane. Technicalities aside, car rental customers may ask what’s the difference between different Octane-grade petrol? Comparing 98-Octane vs 95-Octane, the 98-Octane costs on average 18% to 29% more than the 95-Octane petrol. That amounts to about ~$20 more when pumped with 98-Octane as compared to 95-Octane! And for petrol kiosks that provide all 3 types of petrol, 98-Octane costs a staggering 19% to 31% more than the 92-Octane fuel!
Thankfully, most cars in Singapore generally do not require 98-Octane petrol. According to a study from ValueChampion, cars with an engine size of more than 2.0 litres/ 2000cc, are more likely the ones that require and are worth fuelling with more premium petrol.

COST SAVING TIPS

For long term car rental, expat car rental or corporate car rental customers, one can consider tapping on different credit cards and promotions to reap the benefits of the discounts and rebates available. When using some of these petrol credit cards alongside with the petrol company’s loyalty programs, one can attain up to 15% – 24% of discounts, off-setting the fuel tax. For short term car rental customers, one can take note of the varying differences in prices between petrol companies to attain greater savings for each rental.

Understand What You Are Paying For With Your Car Rental Company Fuel Policy

Nevertheless, it is important to check with your car rental company with regards to which type of petrol is recommended for each rental. With each car rental company comes its fuel policy. The fuel policy normally reflected in the terms and conditions of the rental agreement is signed upon every car rental pick up.
At BizLink Rent-A-Car Pte Ltd, we abide by a Full/Full fuel policy option, where customers get to pick up a car with a full tank, and have to return the rental car back with a full tank. An amount of money is blocked on the credit card, where in cases where customers do not return with a full-tanked car, the fuel-difference for the petrol, along with the refuelling fee, is charged. For questions with regards to petrol and our car rental company’s fuel policy, please do not hesitate to speak to our friendly sales associates and they will strive to provide for your every car rental need.

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