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Breaking down the cost of petrol in South Africa: inland vs coastal
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Petrol users across South Africa are paying around R5.00 a litre more for fuel in May 2021, compared to a year ago.
This after significant fuel price increases throughout the first few months of the year, which has seen fuel reach record highs in April, according to the Automobile Association of South Africa (AA).
“Although fuel prices dipped a little in May, the fuel price remains high, affecting all sectors of the economy. Filling a 50-litre tank with petrol in South Africa costs just more than R250 in May 2021 than it did in May 2020,” it said.
How much it costs to drive South Africa’s most popular cars after the big petrol price hike
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South Africa saw a steep petrol price increase on Wednesday (7 April), as the double-blow of high oil prices and new taxes took effect.
The minister of finance, in his Budget Speech in February 2021, announced that the Fuel and Road Accident Fund (RAF) Levies on both petrol and diesel will increase by 16 cents a litre and 11 cents a litre respectively with effect from Wednesday, 7 April.
“With effect from 07 April 2021, the Fuel Levy in the price structure of petrol and diesel will therefore amount to 393 and 379 cents a litre respectively. The Road Accident Fund Levy in the price structure of both petrol and diesel will amount to 207 cents a litre with effect from 07 April 2021,” said the department.
You’ll now pay R313 tax every time you fill up with petrol
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South Africans can expect to pay significantly more at the petrol pumps from Wednesday (7 April), with fuel price increases and new taxes taking effect.
A large portion of South Africa’s petrol price is made up of levies, with the General Fuel Levy (GFL) and the Road Accident Fund Levy (RAF) taking up the biggest chunks.
Increases to these taxes were announced by Finance minister Tito Mboweni in his February Budget speech, with the levies charged on every litre of petrol sold.
With effect from 7 April 2021, the Fuel Levy in the price structure of petrol and diesel will therefore amount to 393.0 c/l and 379.0 c/l respectively.
How much more middle-class South Africans will pay for electricity this month
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Middle-income South Africans will pay significantly more for electricity this month as Eskom electricity tariffs increased by 15.63% on 1 April.
This comes after the power utility and the National Energy Regulator of South Africa (Nersa) reached an agreement on Eskom’s allowable revenue for the 2021/2022 financial year.
These price hikes are already filtering through to end-users in different municipalities, as seen with recent price adjustment notifications from areas like the City of Joburg.
FNB said that it expects these hikes to hit middle-income households particularly hard, and that families will have to review their already stretched budgets to keep the lights on.