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337 posts

Ultimate Geek
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# 208861 2-Mar-2017 15:57
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petrol calc

 

 

 

Am I calculating correctly? There is absolutely no benefit to accumulating the cents/litre


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  # 1728998 2-Mar-2017 15:59
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What I presume was a table has been completely lost, but I did the calcs once and figured out that there was no benefit. The only time I accumulate is when someone else is paying :)


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  # 1729000 2-Mar-2017 16:04
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Money now, is worth more than money later. Simple as that.

 

Why? Various reasons, but for one, think of inflation.


 
 
 
 




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Ultimate Geek
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  # 1729001 2-Mar-2017 16:08
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Behodar:

 

What I presume was a table has been completely lost, but I did the calcs once and figured out that there was no benefit. The only time I accumulate is when someone else is paying :)

 

 

 

 

yip saw that as soon as I posted


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  # 1729003 2-Mar-2017 16:11
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If you do a $40 fill followed by a complete fill then it does save you *something*

 

Let's say petrol is $2 a litre to make calculation simple, the actual price isn't far off this (maybe $1.80 on average, at least in most of Auckland)

 

$40 spent, no discount = $40, for 20 litres, 6c accumulated

 

Next time you fill up from empty - let's say 45 litres = $90

 

But with your 6c accumulated discount and 6c new discount (a total of 12c/litre) that is $90 - 45 * .12 = $84.60

 

Your total spend for 65 litres is $124.60 because you accumulated

 

Now if you'd used the discount.. the first 20 litres would cost you $40 - 20 * .06 = $38.8 and your second fill = $87.30 for a total of $126.10 without accumulating

 

So by accumulating on your $40 fill you saved $1.50

 

OP your math doesn't make much sense, why have you added up the $/L ? And in your scenario you always do a $40 fill, which doesn't do anything for you.




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Ultimate Geek
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  # 1729004 2-Mar-2017 16:17
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ubergeeknz:

 

If you do a $40 fill followed by a complete fill then it does save you *something*

 

Let's say petrol is $2 a litre to make calculation simple, the actual price isn't far off this (maybe $1.80 on average, at least in most of Auckland)

 

$40 spent, no discount = $40, for 20 litres, 6c accumulated

 

Next time you fill up from empty - let's say 45 litres = $90

 

But with your 6c accumulated discount and 6c new discount (a total of 12c/litre) that is $90 - 45 * .12 = $84.60

 

Your total spend for 65 litres is $124.60 because you accumulated

 

Now if you'd used the discount.. the first 20 litres would cost you $40 - 20 * .06 = $38.8 and your second fill = $87.30 for a total of $126.10 without accumulating

 

So by accumulating on your $40 fill you saved $1.50

 

OP your math doesn't make much sense, why have you added up the $/L ? And in your scenario you always do a $40 fill, which doesn't do anything for you.

 

 

 

 

The benefit of accumulating is so small

 

 

 

petrolcalc2 

 

 

 

ubergeeknz:

 

OP your math doesn't make much sense, why have you added up the $/L ? And in your scenario you always do a $40 fill, which doesn't do anything for you.

 

 

Seriously? Total spent...


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  # 1729006 2-Mar-2017 16:21
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One minimum fill with an accumulate followed by the largest fill you can do is the only scenario where it works.  You're right though, the benefit is small.  Where you get the real benefit is accumulating discounts from things other than fuel.


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  # 1729007 2-Mar-2017 16:22
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dryburn:

 

 

 

ubergeeknz:

 

OP your math doesn't make much sense, why have you added up the $/L ? And in your scenario you always do a $40 fill, which doesn't do anything for you.

 

 

Seriously? Total spent...

 

 

Summing this column ($/L) doesn't make sense, it would make more sense to average it.




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Ultimate Geek
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  # 1729011 2-Mar-2017 16:28
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ubergeeknz:

 

dryburn:

 

 

 

ubergeeknz:

 

OP your math doesn't make much sense, why have you added up the $/L ? And in your scenario you always do a $40 fill, which doesn't do anything for you.

 

 

Seriously? Total spent...

 

 

Summing this column ($/L) doesn't make sense, it would make more sense to average it.

 

 

 

 

I see your point. My mistake.

 

 

 

petrol


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  # 1729018 2-Mar-2017 16:42
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To minimize your payments to BP/Caltex, you should keep accumulating points with $40 fills until you’re about to run out of your 2 month accumulation window. Then get a 50L fill. At $1.919/L, $40 ~= 21L. Each time you accumulate, you get 50L (i.e. a bit more than twice as much) petrol at the discounted price... i.e. a bit more than twice the discount you would have got if you'd cashed in.

 

Here’s a spreadsheet to show how it works out. You can adjust the discount and petrol price at B2 and D2. Basically, the higher the price, the better it is to accumulate.

 

NB:

 

     

  1. Try to cash in with your 50L fill before any petrol price rises.
  2. Don't ever put in more than 50L -- the excess is all undiscounted petrol. Similarly, don't ever put in less than $40.
  3. Waze is an Android app which uses crowd-sourcing to allow you to see petrol prices (as well as doing all the usual routing, etc).
  4. At the current price ($1.919c/L) and standard (6c/L) and you fill up 8 times/2 months, if you see (e.g.) Waitomo selling at $1.79 or less, you're better off filling up completely there.
  5. The periodic 10c/L discounts screw up the above calculations. If you could get all fills at that discount, it moves your Waitomo decision point to $1.71.
  6. If you value your time, then you're probably better off to just fill up totally every time.

 

 




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Ultimate Geek
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  # 1729024 2-Mar-2017 16:49
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Thanks for the detailed answer. 

 

I can't access your spreadsheet


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  # 1729026 2-Mar-2017 16:53
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dryburn:

 

 

 

petrol calc

 

 

 

Am I calculating correctly? There is absolutely no benefit to accumulating the cents/litre

 



Accumulate would only be worth if you knew the price of petrol as about to fall.....thus increasing the value of money saved relative to the new, lower price of petrol. 

But otherwise......just use it. If the price goes up, it devalues what you've saved. 





____________________________________________________
I'm on a high fibre diet. 

 

High fibre diet


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  # 1729027 2-Mar-2017 16:55
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I accumulate when out of Wellington (because anywhere north of here is basically cheaper) and redeem when back in town :)


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  # 1729088 2-Mar-2017 19:14
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I accumulate each time i go to BP, Every week they seem to have a day of 10 cents of.

 

I always do the minimum of $40 for the discount.

 

Car hold 65L, so can do two lots of $40 on the one pump, and pay separately.

 

Then you get 10 cent of each transaction.

 

You can do 3 fills per pump before going in to pay.


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  # 1729090 2-Mar-2017 19:23
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You benefit on accum by only buying $40 gas (or using two pumps at $40 each if you need to fill up) and then redeeming on a full tank.

 

Smartfuel is just a scam. The sooner it's outlawed by the Commerce Commission the better off we'll all be (such schemes have been banned by the ACCC for a few years now)


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  # 1729091 2-Mar-2017 19:29
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A diesel user here. Accumulation is of no benefit for me. I usually let it get down enough to put 50 litres in my 60 litre tank. Even If I am travelling and using heaps it is negated by the low pump price of diesel compared to any grade of petrol.

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