Fuel prices have soared. Here are two ways you can save
Same car. Same tank. Over R400 more to fill it than this time last year.
That’s the reality for motorists driving a car with a modest 40-litre tank. Since March, the inland price of 95 unleaded petrol has climbed from R20.75 to R30.25 – a 46% increase.
Diesel went from R18.42 to around R32, a 78% jump. Which means filling an 80-litre double cab with 0.05% diesel increased from R1,472 to R2,556 – over R1,000 more.
And while we can’t control global oil prices, or how much you pay at the pump, there are two ways to get back some control: Use less fuel by driving better and getting more value from your fuel rewards programme each time you fill up.
South Africans are buying less fuel, but still need to drive
Discovery Insure’s analysis of more than 200,000 clients shows just how much motorists are changing their behavior as fuel prices climb.
Following October’s fuel price increase, fuel purchase volumes among Discovery Insure clients fell by approximately 33%. Yet the number of trips taken declined by just 6%, while kilometres driven fell by 7%.
The difference tells an important story. South Africans may be buying less fuel, but they can’t simply stop driving.
And they’re changing how they fill up, too. Further analysis by Discovery Insure shows that the average fuel purchases have declined from approximately 36 litres to 31 litres during months with larger price increases, while motorists are visiting filling stations more frequently.
It’s a trend that’s also reflected in Discovery Bank and Visa’s SpendTrend26 report, which highlights the pressure essential expenses, including fuel and transport, continue to place on household pressures.
So, what can motorists do about it?
1. Drive smarter and make every litre go further
One of the simplest ways to reduce fuel costs is to improve how efficiently you drive. While traffic conditions aren’t always within a driver’s control, driving habits are.
Planning routes, combining errands, maintaining a steady speed and avoiding harsh acceleration and braking can all help reduce unnecessary fuel consumption.
These changes may seem small, but over hundreds of kilometres each month, they can make a meaningful difference.
And there’s another benefit to driving better: with Discovery Insure’s Vitality Drive programme, safer driving can also help motorists earn more fuel rewards.
2. Get up to 65% back on qualifying fuel spend
Through Discovery Insure and Discovery Bank, qualifying clients can now earn up to 65% back on qualifying fuel spend, combining rewards for safer driving and better money management.
On R3,000 of qualifying monthly fuel spend, that’s up to R1,950 paid back in equivalent Ðiscovery Miles.
Here’s how it works: clients can earn up to 50% back through Vitality Drive, with a further 15% through qualifying Discovery Bank products and Vitality Money. A Discovery Bank account, including a zero-monthly-fee option, is required to access the Vitality Drive fuel reward.
And here’s where the value gets even better.
Ðiscovery Miles can be converted to rands at a rate of 10 Miles to R1. Clients can get even more value by spending their Miles at participating partners, where they can enjoy discounts of up to 30%. That means your fuel rewards can stretch further than their standard rand equivalent.
Alternatively, qualifying clients can choose to have their fuel rewards paid within 24 hours into Discovery Insure’s Insure Funder Account, which helps them save towards vehicle-related expenses.
Here, the Vitality Drive portion of the reward, up to R1,500 a month, is doubled. That’s potential savings of up to R36,000 a year towards tyres, servicing, claims excesses or vehicle licence renewals.
Motorists still pay the full price at the pump, with rewards earned afterwards, subject to qualifying criteria and limits.
You can’t control what fuel costs at the pump. But with smarter driving and the right rewards, you can get more value from every fill-up.
