Z Energy has shared that Auckland driver Grant, in his mid-forties and living on Auckland’s North Shore with his large family, beats fuel price bumps by using Sharetank. He also shares his account with his parents to help them out.
Sharetank is part of the Z App and allows customers to pre-purchase up to 1,000 litres of fuel (per grade including 91, 95 or Diesel), scanning every Z service station within 30kms of their current location to access the lowest pump price within that area. Customers can then redeem the fuel or share it with friends and whānau.
Grant used Sharetank with the petrol price monitoring app Gaspy, locating the lowest local price for fuel and getting the best deal available.
He believes that Sharetank is a great way to budget fuel expenses.
“It’s great not to worry about fluctuating fuel prices,” said Grant.
Grant is one of more than 21,000 active users of Sharetank. About 1,000 customers daily are topping up their Z Sharetank accounts as they beat price rises and seek the cheapest local fuel.
The average redemption rate to top-up rate is 79.9 percent, suggesting customers tend to redeem their litres regularly while leaving a small amount in reserve (almost like a rainy day fund).
This year, Sharetank had its largest-ever week for redemptions, on the week commencing 6 March 2023. Its highest-ever rate of tops-up came before the Ukraine war in 2022, and similar numbers were recorded on a ‘Bonus litre’ day that same year.
Since he started using Sharetank in February 2020, Grant has purchased a total of 2784L of fuel through Sharetank and has saved $1497.52 for the Sharetank litres he has redeemed. This comes to average savings per litre of 53.8 cents, which he attributed to ‘good buying and a bit of luck’.
Grant considers Sharetank a ‘no lose’ situation. If the fuel price goes below what he paid for his Sharetank litres, he waits until the price goes back up.
