I gotta be frank here. I don’t actually drive so I don’t know much about how drivers think.
However, given my tendencies to enter road rage mode when my friends are driving, they suggested that I should never, ever touch a steering wheel.
So, considering how much of an amateur I am, please enlighten me on this:
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Do you drivers still pump petrol in Singapore? Like, large quantity?(pump to full tank)
All I know is that my friends are always whining about how expensive petrol is these days. However, soon they may be able to compare the petrol prices in Singapore.
The Competition Commission of Singapore(CCS) has proposed the development of a platform(web portal and/or mobile app) to allow consumers to compare petrol prices more efficiently.
According to a survey conducted by CCS, such a platform could help motorists make informed purchases, saving up to a total of $40 million a year.
“Discount and rebate schemes are complicated and make price comparison difficult for consumers. If information on effective prices, that is, retail prices net of petrol discounts and rebates, was made simpler and available, consumers would be able to effectively compare prices and make more informed petrol purchase decisions,” said CCS.
“This would, in turn, facilitate a more price-competitive retail petrol market in Singapore, as petrol retailers would then be encouraged to offer better prices and promotions to attract consumers.”
TL;DR: With an effective platform to compare prices, petrol retailers will be forced to offer better prices/promotions.
While retail prices are generally competitive, loyalty programmes offered by the petrol retailers have been shown to encourage brand loyalty amongst consumers.
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An inquiry by CCS has found that 58% of consumers surveyed did not switch petrol brands between 2012 and 2016. Only one in five actually compared the prices of petrol.
Well, that’s one way to keep your customers coming back for more!
CCS has also added that, contrary to popular belief, using a higher grade petrol than what that’s recommended by manufacturers does not actually optimise engine performance.
Basically, if your stomach can’t take atas food, don’t force yourself to eat lah. No benefits right?
Well, it would be interesting to see a platform for comparing prices. Petrol retailers better step up their promotion and loyalty programmes!
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This article was first published on goodyfeed.com
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Featured image: straitstimes.com
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