SPC Petrol Price Singapore

SPC Petrol Price Singapore 2024

In discussing the petrol prices at Singapore Petroleum Company (SPC), a significant player in Singapore's fuel industry, I'm addressing a topic that impacts a wide range of consumers. SPC operates a network of petrol stations across Singapore, providing various grades of fuel to drivers. The price of petrol at SPC is subject to multiple factors, including global oil prices, government taxes, and operational costs. As a consumer monitoring these prices, I'm aware that even minor fluctuations can have a considerable effect on overall transportation expenses.

Understanding the mechanisms behind SPC's pricing can help customers anticipate changes and possibly adjust their refuelling habits accordingly. Singapore's unique position as a country with limited natural resources means that it imports almost all of its crude oil, which it then refines. Consequently, the prices at SPC's pumps are closely tied to the international oil markets and the exchange rate of the Singaporean dollar. Consumers, taxi operators, and businesses alike keep a watchful eye on these prices due to their direct influence on the cost of commuting and goods transportation.

Besides market-driven factors, governmental policies and environmental considerations also play a role in the pricing at SPC petrol stations. For example, the Singaporean government's efforts to encourage a shift towards greener energy sources can affect the pricing structure and incentives for fuel products. It's important for me to stay informed about these policies as they can introduce changes such as rebates or additional duties that directly impact the final price I pay at the pump.

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Overview of SPC Petrol Prices

In my analysis of Singapore Petroleum Company (SPC) petrol prices, I focus on the discernible patterns over time as well as the myriad elements that impact the current pricing landscape.

Historical Price Trends

I've observed that SPC petrol prices have fluctuated significantly over the years, influenced by a confluence of international crude oil market dynamics and local regulatory adjustments. Statistics show a trend where prices often escalate during periods of heightened global demand or political unrest in oil-producing regions. Conversely, prices tend to soften when crude oil markets are oversupplied or during economic downturns.

Factors Influencing Current Prices

Currently, a variety of factors coalesce to shape SPC petrol prices. These include the global crude oil prices, which are the bedrock of petrol pricing. Additionally, fluctuations in the foreign exchange rates can notably affect import costs, directly impacting the price. Government taxes and duties also play a pivotal role by adding a fixed cost to each litre of petrol sold. Moreover, operational costs, such as refining, distribution, and retail outlet maintenance, as well as environmental policies, requiring cleaner fuel types, influence the price at the pump. To remain competitive, SPC takes into account prices set by other petrol retailers in Singapore, leading to a periodically adjusted pricing strategy.

Price Comparison

In this section, I'll detail how SPC petrol prices stack up against other brands and discuss any regional price differences within Singapore.

SPC Vs Other Brands

SPC (Singapore Petroleum Company) petrol prices often fluctuate in response to market conditions, similar to other brands in Singapore. However, I've observed that SPC tends to position itself competitively. For instance, 95-octane petrol at SPC is typically priced at SGD 2.85 per litre, while another well-known brand might charge SGD 2.86 for the same octane rating.

Brand 92-Octane 95-Octane 98-Octane Diesel
SPC $2.810 $2.850 $3.340 $2.660
Esso $2.81 $2.86 $3.34 $2.67
Shell - $2.86 $3.36 $2.71
Caltex $2.81 $2.86 - $2.71
Sinopec - $2.86 $3.34 $2.66
Petrol Price as at 6/2/24

It's worth noting that SPC also offers loyalty discounts and credit card promotions that can further lower prices for consumers.

Where is SPC petrol from?

Singapore Petroleum Company (SPC) sources its petrol from a variety of locations to ensure a stable supply for the Singapore market. SPC is a subsidiary of PetroChina, one of the largest oil companies in the world. This association with PetroChina grants SPC access to crude oil resources which are then refined.

Crude Oil Origins:

  • The Middle East
  • Southeast Asia

The refining process of the crude oil occurs at SPC's refining facilities, where meticulous steps are taken to produce various grades of petrol. This petrol is what I eventually see at SPC's retail stations across Singapore.

My table below breaks down the process:

Stage Description
Crude Oil Procurement Crude oil is sourced from accredited suppliers.
Refining Crude oil is processed into petrol at SPC facilities.
Distribution Petrol is distributed to SPC stations island-wide.

My petrol's journey is monitored at every stage to maintain high-quality standards and reliability for consumers like me. SPC's strong supply chain and robust refining capabilities are what keeps my vehicle running smoothly.

How to Get SPC Petrol Discount?

I can take advantage of SPC petrol discounts through several methods that cater to different needs and preferences. Here's a concise guide:

1. Membership Cards:

  • SPC&U Card: By signing up for an SPC&U membership card, I receive instant discounts on petrol purchases eg.
Membership Discount POSB Everyday Card Discount POSB Everyday Card Rebate
(on final charge amount)
Total Savings
10% (SPC&U Member)5% (Non-SPC&U Member) 5% 6% Up to 20.1%
  • Credit Card Tie-ups: SPC offers promotional discounts in collaboration with major credit card companies. By using eligible credit cards, I can obtain further reductions in petrol prices.

2. Loyalty Programmes:

  • Point Accumulation: When I use my SPC&U card, I accumulate points with each purchase that can be redeemed against future petrol purchases, leading to savings over time.

3. Promotional Campaigns:

  • SPC occasionally runs promotional campaigns where I could receive additional discounts by meeting certain criteria or purchasing specific amounts of petrol.

4. Mobile Apps:

  • By using the SPC Mobile App, I can stay updated about the latest offers and sometimes access exclusive app-user discounts.

5. Corporate Ties:

  • Certain organisations and businesses have corporate tie-ups with SPC, which allow their employees or members to enjoy special discounted rates.

To ensure I get the best discount, I regularly check the SPC website or the SPC Mobile App for the latest information on promotions and offers. It's important to note that terms and conditions apply for all discounts and they may change over time.

Is 98-octane better than 95?

When discussing petrol prices and options in Singapore, I often encounter the question of whether 98-octane petrol is superior to 95-octane. Here are some straightforward facts:

  • Octane Rating: This is a measure of fuel stability; a higher octane rating indicates greater resistance to knocking or pre-detonation, a form of inefficient combustion.

I find that 98-octane petrol provides a smoother performance in certain high-compression engines, which are designed to take advantage of higher octane fuel. For engines that recommend 98-octane, using lower-octane petrol like 95 could potentially hinder performance and efficiency. However, this is not a universal rule.

Octane Rating Typical Use
98-octane High-performance and luxury vehicles with high-compression engines
95-octane Most standard vehicles
  • Cost and Value: 95-octane petrol is generally cheaper than 98-octane. I weigh the cost against potential performance benefits when choosing.

I advise checking the owner's manual of a vehicle to find the recommended octane rating. Using 98-octane in a car that only requires 95-octane does not often provide a noticeable benefit, and it may not justify the higher price.

In summary, the choice between 98-octane and 95-octane petrol should be based on the vehicle's requirements and whether the potential benefits align with the cost. There's no one-size-fits-all answer; it's about matching the right type of fuel to the specific needs of your car.

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Cover image: Pohboon Yeo on Googlemap

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