The media in recent times has reported a ramping up in competition between two of our three grocery giants, Coles and Woolworths for custom at the petrol bowser by way of fuel or petrol voucher discounts. Is this because they want your shopping dollar or because there is good profit in petrol at the moment?
We think it’s a bit of both. Some commentators are leaning more towards the profit-boosting petrol side and asking why, with the Aussie dollar at parity with the greenback, are we still paying as much as $1.30 a lire for unleaded fuel? As consumers have long suspected, it seems what goes up doesn’t necessarily come down in a hurry.
The GE Money Coles Source card offers up to 8 cents per litre fuel discount whenever over $30 is spent on the card at a Coles group store. This is effectively doubling the discount given to customers via their shopping dockets. How much can you save by using the GE Money Coles Source card to pay for your petrol?
According to our calculations, your possible extra reward would be around $40 per year if you spent $100 a month on petrol. This would double if your petrol bill was $200 a month, and you would save $200 a year if you spent $500 a month at the bowser.