One of the mechanisms South Africans have been using to offset some of the pressures brought by recent sharp petrol price increases is opting to spend their FNB eBucks on petrol at fuel retailers like Engen.
Fuel remains an unavoidable expense for South Africas households, and with prices expected to continue to rise on the back of global supply chain pressures, motorists are looking for any way to save.
According to FNB, eBucks customers “unlocked” a combined R418 million in value at Engen over the past twelve months.
This includes R241 million earned back in eBucks rewards through fuel purchases, and R177 million in eBucks spent on fuel at Engen.
Woodhatch, CEO of eBucks Rewards at FNB commented that when it comes to fuel, every rand and every litre counts.
“Fuel is a necessity for many South African households, and with prices expected to remain under pressure amid ongoing global geopolitical uncertainty, customers are looking for practical ways to protect their monthly budgets,” he said.
“Our data shows that eBucks continues to make a real, measurable difference for our customers’ pockets.”
Over the last year, eBucks rewards earned by customers are equivalent to filling around 424,000 tanks, which Woodhatch says helps motorists go further even as fuel prices increase.
Over 54% of rewards members refuel exclusively at Engen, while more than 850,000 members earn rewards from fuel purchases every month.
“We’re seeing exceptional loyalty from customers who concentrate their fuel spend at Engen, and those customers are consistently the ones unlocking the most value,” added Woodhatch.
“But there’s still a significant opportunity for customers who are splitting their fuel spend across multiple stations.
He explained that by consolidating more of their fill-ups and ensuring that they’re correctly set up to earn, customers can significantly increase what they get back each month.
Using eBucks to offset global pressures
Acording to Ester Ochse, Integrated Advice, Product Head at FNB, fuel is one of the household expenses that feels price increases most sharply.
“Fuel is something most people can’t easily cut back on, which is why price increases are so noticeable in monthly budgets,” she noted.
“When global events push fuel prices higher, the impact tends to be felt for longer, not just for a month or two.”
Ochse explained that this is why it is increasingly important for consumers to find ways to reduce how much they spend on fuel.
“In times like these, small, consistent savings really add up,” she said.
“Using rewards, discounts or programmes that help lower everyday costs can ease pressure on household finances and free up money for other essentials.”
Adding to this, Woodhatch explains what while fuel costs may be unavoidable, the impact on household budgets does not have to be.
“With up to R8 back per litre in rewards, the earned eBucks by customers can go a long way to help cushion the effect of fuel hikes,” he noted.
“More than 850,000 customers are already benefiting from the eBucks programme, using rewards to offset increases and reduce cost-of-living pressure.”
“Our goal is to help customers make smart everyday decisions that build financial resilience in a challenging economic environment.”
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