Inland motorists feel the brunt of petrol increase in May
“Using the current data, filling a 50-litre tank of fuel inland (93ULP) will cost R1 150.50 inland, and R1 130/l (95ULP) at the coast – R76.50 more now than a year ago.”
Pretorians and the rest of the country are feeling the pinch of the petrol price hike this month.
Residents had to pay around R1.50 a litre more for fuel than the same time last year.
According to the Automobile Association (AA) of South Africa, the increases to 93 unleaded petrol (ULP) inland and 95ULP at the coast represents increases of around 7% in petrol costs over a year period.
“The wholesale price of diesel over the same period decreased from R21.99/l in May 2022 to R20.15 in May 2023 inland, and from R21.34/l in May 2022 to R19.43/l in May 2023 at coastal rates,” the AA said.
It, however, said the decrease in the price of diesel must be seen against the backdrop of significant prices of this fuel between June and December 2022 when the price of a litre of diesel inland reached R25.40/l in July 2022.
“Similarly, petrol prices during this period (June – December 2022) remained high with ULP95 (inland) reaching R26.74/l in July 2022, and ULP95 at the coast reaching R26.09/l in the same month.
In May 2022, a litre of ULP93 inland cost R21.51 while the same fuel cost R23.01/l in May 2023. A litre of ULP95 at the coast cost R21.09 in May 2022, and in May 2023 that fuel now costs R22.62/l”.
South Africa’s fuel price is comprised of many different elements, some of which make fuel in the country more expensive than in neighbouring countries to which South Africa exports.
In 2023, no increases to these levies were affected, but they remain significant contributors to the overall prices of fuel.
Other things that are linked to the petrol increase are transport costs (from the harbour to inland areas, which accounts for the difference in price between coastal and inland prices), custom and excise duties, retail margins paid to fuel station owners (currently R2.42 on every litre sold), and secondary storage costs.
“Using the current data, filling a 50-litre tank of fuel inland (93ULP) will cost R1 150.50 inland, and R1 130/l (95ULP) at the coast – R76.50 more now than a year ago”.
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