As South African consumers continue to feel the pinch from the high cost of living in the country, some reprieve has been offered at the fuel pumps with the recent decrease in fuel prices.
However, with interest rate hikes and a surge in the price of basic food goods due to the challenging economic climate, coupled with low salary growth, many consumers still experience significant financial pressure and are struggling to make ends meet.
Standard Bank has announced that from 16 September consumers will be able to get R10 back in fuel spend per litre when they fill up at Caltex services forecourt.
The cost saving method is available to Standard Bank UCount members, essentially meaning customers can now fill up at Caltex at the same fuel price they did in 2018.
Fuel prices have been on the rise for months.
From January to July this year, the price of unleaded 95 in Gauteng went from R19.61 per litre to R26.74 per litre – that’s a 36.4% increase in just six months.
Motorists were afforded some relief at the pump recently following a recent fuel price decrease, and further cuts are expected in September, but these reductions could be impacted by rising oil prices and a weaker rand.
In recognition of the challenges consumers are facing, Standard Bank, through its renowned popular UCount Rewards programme, is giving members the opportunity to earn more Rewards Points when filling up at participating Caltex forecourts around the country.
Members of the reward programme can earn up to R10* back in reward points per litre of fuel and oil when using their qualifying Standard Bank credit, cheque, or debit cards at participating Caltex forecourts around the country.
Every UCount rewards member is eligible to double their rewards points on fuel, irrespective of tier level.
“The reality is that despite drops in the fuel price, consumers are still having to cough up much more to fill up their tanks than they were at the beginning of last year,” comments Fayelizabeth Foster, Head of Loyalty & Rewards at Standard Bank.
“The high cost of fuel has had a knock-on effect in other areas of the economy, contributing to significant price increases in groceries and essentials. As a result, South Africans are seriously feeling the pressure financially and are on the hunt for value and ways to save money.”
“At Standard Bank, we’re always striving to come up with new ways to add value to our customers’ lives,” says Foster.
“We understand that the current economic situation puts additional pressure on consumers and impacts their general welfare, and we want to help ease the burden wherever we can. The new double-up deal from our UCount Rewards Programme is a way to earn more points and get more cash back when it counts.”
“Whether that means cutting back on spending or searching for the best deals possible. The new UCount Rewards alliance with Caltex and Makro aims to help people get the best value for money when they spend on a non-negotiable item such as fuel. In today’s tough economic climate, every little bit helps”, adds Foster.
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