Anyone else considering to buy Sharetank on Z Enery app?

[sbikeboy]

With the fuel excise duty of around 29c/L returning from 1 July, is anyone looking to buy into Z Energy Sharetank offer?

One condition I see is: "Fuel purchased on Sharetank does not expire, but you must use your Sharetank Balance within a reasonable period of time after purchase."

Is there any catch here other than fuel price dropping below where it was bought in bulk?

 

[kendrac]

@sbikeboy Something interesting about the Auckland regional fuel tax, Z stills pays it on your behalf if you fill up in Auckland, even if you bought your sharetank liters elsewhere. When they were planning sharetank, they consulted with the government, and that was a requirement. Z still thinks it is worth it even with this cost, as by buying all your liters through sharetank you only ever fill up with Z, and once you prebuy they can immediately source extra supply at today's prices to offset the pricing risk.

This nationwide fuel tax that is returning on Saturday is obviously different. Probably was never envisioned when they were planning sharetank. I could see a ton of extra customers joining this week, and once you use sharetank once, you tend to be a pretty sticky customer. The customers are obviously benefitting by dodging the tax for a period, but I reckon massive profits for Z as a result of this tax returning too.

 

[tay86]

@kendrac Agred I've got a mobil card and z app.

Sharetank and pay via app is much easier, find myself filling at z more often lately.

 

[martine_]

@sbikeboy Nope. It’s all good. They still make money because you are buying it in today’s price and the subsidy is not for them, it’s for you.

 

[sitsatdeskwithpen]

@sbikeboy I put 500L on my visa light credit card. Interest free for 6 months and lock in the pretax rate also Z is generally within 6c of the cheapest in Dunedin

 

[anagenisis]

@sbikeboy Something to point out is if the price of fuel is less than what you bought it for on sharetank, you can elect to use the lowest price and save the sharetank for another day

 

[aaronb87]

@sbikeboy No catch, really. There’s a limit though. I bought 250L the other day as I was driving through another town with far lower prices than my own, as well as in preparation for the hike. It’s only like 5 full fill ups but it’ll save me a bit over the next few months.

 

[chris77777]

@aaronb87 The limit is like 1000 litres though.

 

[jordan_cg]

@sbikeboy Considered it, then realised Z is generally about 20c/L more expensive than other options (locally at least) which negates most of the saving.

For example, sharetank tells me my best price now is $2.329/L. Costco was $2.147/L, so 18.2c/L less. As a result, I'm just going to wait and see what happens. If Gull or Costco or Pak fuel offered a sharetank equivalent, I'd absolutely jump on it.

 

[zackjohnson922]

@jordan_cg You generally get what you pay for. Some of the cheaper gas places dont have the additives that keep your engine clean, and can screw up a lot of modern cars.

Probably fine if you run a 20yo piece of shit, but otherwise you may wanna check

 

[strivingforpurityinchrist]

@jordan_cg This is great for people who live near westgate, with a Costco membership, I'd certainly be doing that. However, not as applicable to those who'd have to drive circa 30km + to get there (north shore, central, east, south buyers). Provided buyers are within 30km of the Wiri Z (which I think is typically the cheapest) it's still about 17c cheaper than my local Z. Pre paying now would be 46c cheaper than the local Z from July 1st.

 

[jordan_cg]

@strivingforpurityinchrist Yep, absolutely, I was just identifying my thought process, and thus called out the options locally being comparable. The Z in wiri, or henderson valley, seem to be the only ones I see with reasonable pricing - caveat there's probably others I dont go past often enough to be aware of.

 

[dirkdangler]

@sbikeboy Also don’t forget the govt will tax their tax with GST on top. Like huh?

 

[jackjakkals]

@dirkdangler This is true. AA has been calling for the removal of a 'tax on a tax' for years.

From AA:

"When you last bought petrol, nearly $1 per litre was collected by the government as fuel excise. Once GST is added, taxes form close to half the price per litre for petrol.

Motorists are charged GST on the fuel excise, which amounts to a tax on a tax. The AA has called for the GST on excise to be removed - a move that would reduce prices by near 15 cents per litre and help relieve the financial burden on New Zealanders."

 

[dirkdangler]

@jackjakkals That’s what I thought. Sucks.

 

[krause]

@sbikeboy I use it as a buffer. Put some cash into it every pay day so a full tank doesn’t feel like too big of a hit. When the price is lower at the tank, I fill up like normal and save the Sharetank litres for later

 

[snapdouyinapp]

@sbikeboy I'll be making the most of it this week. Especially as it doesn't expire.

Stocked up 5 x 20L jerry cans today and full tank.

 

[strivingforpurityinchrist]

@snapdouyinapp No need to fill the jerry cans, can just pre buy on share tank and you can go back next week and fill based on your prepaid price.

 

[snapdouyinapp]

@strivingforpurityinchrist Thanks. Yeah I got onto share tank today. 1000 Litres bought.

 

[resjudicata]

@snapdouyinapp Just uh… be careful with insurance… https://i.stuff.co.nz/motoring/132425497/why-you-shouldnt-stockpile-fuel-ahead-of-the-price-hike

Storing more than 50 litres on a property requires a HSNO certification.