SA fuel price: It's not so bad
SA'S PETROL PRICE IS PRETTY CHEAP: SA ranks 40th for the most expensive fuel. View our gallery for the global breakdown.Image: Direct Axis
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JOHANNESBURG, South Africa - South Africans are at their wits end and turning to public transport as petrol prices rocketed by 84c in July - but we still have it easy compared to the rest of the world. Kind of…
Wheels24 reported that prices went up to R13.23/litre in Gauteng and R12.86/litre at the coast on July 3 while both grades of diesel increased by 78.20c/litre.
Image gallery: How SA ranks
According to stats on global fuel prices, South Africa is actually ranked 40th in the table of fuel prices. You’ll be crying your eyes out if you live in Europe as fuel prices are almost R30/litre.
The Turks are hit the hardest and pay about R27/litre while the Americans are ranked at 51st and pay R9.51 but if you really want to drive a V12 then Venezuela is the place to live with the cost of fuel at only 11c/litre.
Though the Americans are not too much cheaper than SA it does get interesting as they only use 0.7% of their salary towards monthly fuel costs whereas South Africans on average have to spend a hefty 6.8% of their pay cheques for fuel.
Why? Because the average American earns the equivalent of R1436 per day and the average South African R203 a day.
Fuel prices are directly affected when Brent (the North Sea oilfield between the UK and northern Europe) crude oil prices rise; that makes up 53.1% of the price of fuel in South Africa while 19% goes to distribution and retail. Where it hits most is the 27.9% that goes to the state - R3.31/litre doesn’t sound too bad but it does when filling a 60-litre tank at about R800 that R200 is for tax.
While there isn’t much to do about the price of fuel, insurance company Direct Axis which supplied the data for this article says there are a number of ways you can reduce petrol consumption.
Tips include: Correct tyre pressures, switching off aircon and curbing excessive engine idling.