As rising fuel costs continue to impact the high levels of consumer distress, South African motorists are increasingly relying on offerings such as Absa Rewards to curb the effects of fuel price hikes. Bloomberg’s Pain at the Pump survey shows that although the price per litre of fuel in South Africa is not the highest in the world, the amount that a South African spends on fuel in proportion to their annual income – 4,25% – is the second highest globally.
In the first 180 days since Absa announced its 5% cash-back offering for fuel purchases at Sasol service stations, customers have shared in excess of R20-million back in cash rewards.
The fuel price continues to rise, which has a major impact on South African consumers who spend a high proportion of their salaries  on fuel.
Shopping smarter and converting the cash earned back on fuel spend into points at other Absa Rewards partners like Pick n Pay or Dischem allows customers to yield even more benefits. These two retail partners offer Absa Rewards members an additional 15% back in value when converting Absa Rewards into their loyalty points which can be spent in-store.
Absa Rewards members get a guaranteed 5% cash back for all Absa card – debit, cheque, credit and garage – purchases (limited to R3000 per month) made at Sasol service stations throughout South Africa, irrespective of whether this spend is at the fuel pumps or at the Sasol convenience stores.
Since the announcement of the partnership, Absa Rewards members have increased their spending at the more than 367 Sasol service stations nationwide by more than 100%.
The Absa Rewards membership has grown by more than 200 000 over the same period.