Sharetank from Z Energy

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#2481162 11-May-2020 13:44

Fuel margins have been heading downward since this time last year. We know how intense competition is in the fuel market because fuel was routinely being sold at or below cost in many parts of the country.

None of this stopped the Commerce Commission from wasting time writing a highly flawed report that didn't even focus on many areas of the market..

They would of lost a lot of money from Wellington given Waitomo and Gull have shown up in the past year, we were around 20c/l above the rest of the North Island.

Jvipers2

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#2875098 25-Feb-2022 19:33

It’s been a while since Sharetank has been made available but there’s not much talk about it.

With fuel prices increasing made worse with war in Europe happening, is it now time to lock in fuel at $2.50/L so we’re covered when it goes up to $3/L?

Is Sharetank really as simple & straightforward as it seems? Buy 1000L now and use whenever at whichever Z station without any hidden fees or t&cs even if fuel prices skyrocketed?

hairy1

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#2875105 25-Feb-2022 19:56

Yep.

It was good early on as Auckland prices used to be quite a bit more than the rest of the country. The prices are a lot more even across the country these days.

Share tank is useful if you want to bet on fuel prices going up.

You pay retail to top up so that's something to consider (no 6 cent discount)

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NorthernZone

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#2875108 25-Feb-2022 20:01

Love-hate Sharetank. Problems with app readers at the pump meant time-wasting line-up inside to pay but now we have auto rego plate recognition so all sweet. Local area savings margin seems to have reduced (esp when allowing for Weds 10c/litre savings) but, as you say, Sharetank does allow us to pre-pay petrol at today's prices & so avoid higher prices coming.

Jvipers2

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#2875118 25-Feb-2022 20:46

NorthernZone:
Love-hate Sharetank. Problems with app readers at the pump meant time-wasting line-up inside to pay but now we have auto rego plate recognition so all sweet. Local area savings margin seems to have reduced (esp when allowing for Weds 10c/litre savings) but, as you say, Sharetank does allow us to pre-pay petrol at today's prices & so avoid higher prices coming.

That’s the worry…what if you have “cheap” fuel in it but can’t access it?

Will fuel in Sharetank be impacted if Z is sold to Ampol?

Or are these risks worth taking for a possible savings of $500 if fuel rockets past $3/L in 2 months time?

Nate001

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#2875123 25-Feb-2022 20:53

I've been using it 100% of the time since 2019. If you can afford to buy 100-200L when prices are good then its great.

At the start I was skeptical and was hesitant to hedge too much fuel but now happy to store 200-300L. I regret not buying more in 2020 when the prices were low, its now almost double.

Every 2-3 months I buy in enough for a few months and its worked out during the price increases. But it can go the other way if they drop and you're stuck having paid too much.

I find the unlock pump feature a lot more reliable if number plate recognition is not available, trying to scan a phone at the terminal is useless although you can scan inside with the attendant.

Edit - I've saved about 32c/L over the years, which is better than the pumped savings.

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mentalinc

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#2875142 25-Feb-2022 22:28

Nate001:

But it can go the other way if they drop and you're stuck having paid too much.

Can't you just pay the pump price and get the 6c discount if the pump price is lower than the sharetank average price (does it show this?)

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hairy1

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#2875147 25-Feb-2022 22:49

Yes. It has proactive price guarantee which will tell you if you are going to pay less than the weighted average of your Sharetank balance.

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Nate001

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#2875162 26-Feb-2022 00:37

mentalinc:
Nate001:

But it can go the other way if they drop and you're stuck having paid too much.

Can't you just pay the pump price and get the 6c discount if the pump price is lower than the sharetank average price (does it show this?)

I guess it depends how you look at it. If you’ve already bought it and the price continues to drop the longer you wait the more painful it feels to use it. On the other hand you could wait for prices to bounce back higher how long do you hold for? In context I’m not talking about the 6-10c discounts but larger long term drops.

All part of the fun in fuel hedging. Can be beneficial if you make the right call or painful if you don’t. But how often do fuel prices drop these days?

Jvipers2

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#2875421 26-Feb-2022 18:13

Nate001: But how often do fuel prices drop these days?

Latest estimates are fuel prices will peak in June 2022…

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#2875528 26-Feb-2022 21:03

I've used Z on and off, looks like I've saved approx 18c a litre with Sharetank. A lot of the time, I tend to use my Fonterra super card which gives 16c a litre off.

This afternoon I noticed that Z appear to have removed the bulk purchase bonus option. I was going to purchase a chunk of diesel.

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#2875531 26-Feb-2022 21:18

Oops - my bad... the bonus litres are only for purchases on Friday :(

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Jvipers2

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#2876415 28-Feb-2022 17:55

Glad to see Sharetank can be helpful if fuel prices continue going up at the rate they are now…

My only gripe now is that Z here in Palmy is a $0.20 premium over the cheapest fuel available…so the “savings” I’m projected to get is only felt if the prices go way above $3/L

cruxis

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#2876474 28-Feb-2022 18:42

Anyone know if any location spoof apps that work with sharetank, So can get cheapest price in the country. I guessing I need to have the app on a rooted phone at least.

NorthernZone

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#2876475 28-Feb-2022 18:43

Good point. Also the need to allow for the Wednesday 10c/L discount (or even 6c/L other days).

When topping up my Sharetank I look for a 15c/L saving & think again if I can't get at least that.

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