How Much Is Litre Of Petrol In South Africa

How Much Is Litre Of Petrol In South Africa

South Africa has been experiencing fluctuations in fuel prices for years, with petrol prices being a major concern for South African motorists, commuters, and businesses. As of September 2021, the petrol prices in South Africa are regulated and adjusted by the government on the first Wednesday of every month.

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Table
  1. The Price of Petrol in South Africa
    1. The Effect of International Crude Oil Prices
    2. The Rand/Dollar Exchange Rate
  2. Higher Petrol Prices' Effect on The Economy
    1. How to Save on Petrol
  3. Conclusion

The Price of Petrol in South Africa

The price of petrol differs across South Africa, with the difference being minor, depending on where you are situated in the country. The petrol price in South Africa is determined by numerous factors, some of which include international crude oil prices, the value of the rand against the US dollar, and importation costs.

According to the Department of Mineral Resources of South Africa, the current petrol price for September 2021 stands as follows:

Fuel TypePrice Per Litre
93 PetrolR17.66
95 PetrolR18.02
Diesel 0.05% SulphurR15.11
Diesel 0.005% SulphurR15.16

The Effect of International Crude Oil Prices

The international crude oil price is one of the significant factors that influence the petrol price in South Africa. When the crude oil price goes up, the petrol price in South Africa follows suit, and when the crude oil price falls, the petrol price also decreases.

South Africa is reliant on importing most of its crude oil to manufacture petrol and other petroleum products. If the crude oil that South Africa imports experiences major instability, South Africa bears the consequences of the high fuel prices, which consequently impacts the common South African citizen.

The Rand/Dollar Exchange Rate

The rand/dollar exchange rate is another significant factor. If the rand loses its value in comparison to the dollar, fuel prices will rise in South Africa. This is because the petrol price is heavily dependent on the importation of crude oil, and if the rand's value is low, importing crude oil becomes expensive. The converse is true when the rand strengthens against the dollar.

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Higher Petrol Prices' Effect on The Economy

The high petrol prices have a severe effect on the economy. As petrol prices soar, the cost of production increases, leading to an overall rise in the prices of products and services. It also leads to a decrease in the purchasing power of South Africans, leading to a reduction in the demand for goods and services.

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The transport sector also bears the brunt of the high petrol prices. With public transport providers such as taxi drivers and bus companies left with no choice but to increase their fares to cover the high fuel costs. This, in turn, leads to commuters spending more of their income on transportation.

How to Save on Petrol

While the petrol price in South Africa may be higher relative to other countries, there are ways to save fuel while driving. Here are a few suggestions:

  • Accelerate gently and maintain a steady speed as moderate acceleration and constant speed consumes less fuel.
  • Plan your route to avoid congested routes that cause stop-and-go driving.
  • Service your vehicle regularly to ensure it's in good condition and that tyres are not under or over-inflated.
  • Try carpooling or use other cost-sharing methods with colleagues, friends or family members to reduce petrol and transport costs.

Conclusion

The petrol price in South Africa remains a significant concern for South Africans, with fluctuations causing distress to many citizens, commuters, and businesses. Staying informed on the factors impacting fuel prices would help in making informed decisions and planning ahead. Additionally, implementing fuel-saving driving tips and exploring alternative modes of transport can help alleviate the burden of high fuel costs.

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