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The price of oil in South Africa is increasing from today (# July 4, 2018.
As the price of oil rises The rise in July was particularly unpleasant for South Africans.
The Ministry of Energy said that fuels 93 and 95 would increase by 26 and 23 cents per liter respectively. This means that the 95 octane gasoline will cost:
- Coastal – R15.53 per liter
- Inland – R16.02 per liter
Worse still, the economist of the Efficient Dawie Roodt Group predicts that rising prices can be followed by an increase from 1945 to 2500 from about 25 cents per liter in August 2018.
This expected increase could be even stronger if the rand continued to fall or if the price of crude oil increased further.
"We are now paying more for fuel than ever before in the history of our country and this is going to have a significant impact on the growth of the economy," said Roodt.
Taxes and Levies
Anger of motorists is the level of bad administration in the South African government and government entities – who receive much of what citizens pay for every liter fuel.
From the R16.02 you pay for a liter of 95 octane gasoline inland, of which R3.37 is a fuel tax For example:
If you only delete the fuel tax and road accident tax, the gasoline would already be cheaper than R5.30, or 10.73 rands per title.
A breakdown of fuel prices in South Africa is below.
| 95 Octane Price – Domestic | |
|---|---|
| Basic Price | R7.50 (750.07 cents) |
| Fuel Tax | R3.37 (337.00 cents) |
| Road Traffic Accident Fund | R1.93 (193.00 cents) |
| Retail Margin | R1.87 (187.20 cents) |
| Gross Margin | R0.34 (34.00 cents) |
| Storage and Distribution | R0.34 (34.50 cents) |
| Differential of the Gauteng Zone | R0.51 (51.70 cents) |
| Lifting of Demand Management Cycle | R0.10 (10.00 cents) |
| Tariffs and Excise | 4.00 cents |
| Petroleum Products Levée | 0.33 cents |
| District of a petrol pump | 0.20 cents |
| Total price | R16.02 |
Now, read: Rising price of the oil – Now more of R16 per liter
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