The retail margin on fuel is only 15%, so there isn't much you can give away in the form of incentives.
BP has launched its own rewards program in South Africa, alongside Shell, Sasol, Astron Energy and TotalEnergies, making Engen the only major company without its own rewards program (this could change following its acquisition by Vitol's Vivo Energy subsidiary this year).
The introductory offer will see motorists earn a total of 30 cents per litre back on fuel spend when they swipe their BP Rewards (20 cents per litre) and Pick n Pay Smart Shopper cards (10 cents per litre), making the total the best collection rate of any petrol station.
Sasol Rewards currently offers 30 points per litre, redeemable at a rate of 1 cent per point (i.e. 30 cents). The exchange rate is subject to change at any time.
Sasol is interesting in that it offers a joint account where a family or friends can “save” their rewards on a single card.
At 30 cents per litre, the effective refund is 1.3% (based on the domestic price of 93 octane in August 2024). Shell's V+ Rewards and TotalEnergies Club offer rewards of 15 cents per litre. (Technically, TotalEnergies' program works with points, with one point currently equal to 1 cent.) The effective refund here is just 0.66%.
| Fuel dealer | Rewards program | Points earned/amount | % of retail fuel price* |
| Astron Energy (Caltex) | Astron Energy Rewards | Eligible to unlock daily and monthly reward vouchers | N/A |
| Blood pressure | BP Rewards | 20 cents per litre | 0.88% |
| Sasol | Sasol Rewards | 30 points per litre (redeemable at 1 cent per point) | 1.3% |
| Sleeve | V+ Rewards | 15c per litre | 0.66% |
| TotalEnergies | TotalEnergies Club | 15 points (15c) per litre | 0.66% |
Astron Energy's rewards program is completely different from the others as it offers customers the opportunity to unlock daily and monthly reward vouchers. These vouchers can be used for airtime, fuel, grocery stores, FreshStops or groceries.
What is striking about the earnings offered directly by petrol stations is how much lower they are than those offered by banks and insurance companies. This is not surprising as the retail margin on fuel is only 15% – so there is not much margin to give away in the form of incentives.
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Banks use merchant interchange fees and fees earned from other products to reward their customers. Not every UCount, eBucks or Vitality Money customer (“member”) will reach the highest rewards tier. You have to be very committed – and own multiple products from the same bank – to earn the maximum rewards.
| Fuel dealer | Partner Rewards Program | Points earned/amount | % of retail fuel price* |
| Astron Energy (Caltex) | Standard Bank UCount | Double fuel bonus by credit card: 60 cents to 10 Rand per litre
Debit card: 10 cents to R1 per litre |
2.64% to 44%
0.44% to 4.4% |
| Blood pressure | Nedbank Greenbacks | 25c per litre | 1.1% |
| Blood pressure | Pick n Pay Smart Shopper/TymeBank | 10 points per litre (10c) | 0.44% |
| BP or Shell | Discovery Bank | Increase your overall performance by 70% with Vitality Drive | Up to 70% (up to 20% boost to up to 50%) |
| BP or Shell | Discovery Insure (Vitality Drive) | Up to 50% | Up to 50% |
| Narrow | Clicks ClubCard | 1 point per litre (10c) | 0.44% |
| Narrow | eBucks (FNB/RMB) | 20 cents to 4 Rand per litre (can be doubled every quarter if conditions are met) | 0.88% to 17.6% With Wesbank: 1.32% to 26.4% With Wesbank and FNB car insurance: 1.76% to 35.2% |
| Sasol | Absa Rewards | Debit card: 0.15% to 4.5% per litre Credit card: 0.2% to 30% per liter |
0.15% to 4.5% 0.2% to 30% |
| Sleeve | Capitec Bank | 20 cents per litre when swiping the V+ Rewards card and paying with the Capitec card | 0.88% |
| TotalEnergies | Dis-Chem | 10 Dis-Chem Benefit bonuses per litre (10c) | 0.44% |
| TotalEnergies | Sanlam Money Saver Credit Card | 1 rand per litre | 4.4% |
* At the domestic price of 93-octane petrol in August 2024, R22.71
Among banks, there is a clear leader: Discovery. However, the highest reward level depends on a member reaching Diamond status, which is not easy (the group can also compete in other ways). The up to 70% cashback depends on many factors.
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Next is FNB's eBucks with up to 35% cashback in eBucks, however this is dependent on the customer reaching Level 5 for eBucks and having a financed car with Wesbank and car insurance through the bank.
Standard Bank's uCount and Absa Rewards are both not far behind. Standard Bank offers a 'Double Up' promotion, which requires a customer to own a range of products in addition to a card.
This article was republished from Moneyweb. Read the original here.
