FUEL HIKE IN JUNE

&uel price in South Africa is a very sensitive issue that has ripple effects which influence the economy. Covid-19 has been a bit of a game changer for South Africans while the country was in a panic mode and price fixing and mask price change overnight. In June Wetrol will go up and a price cut for the Diesel.

The petrol price has dropped twice from around R16.16 in January to just around R12.22 in May. Earlier in the month Central Energy Fund data showed that petrol price will increase of around 56 cents per litre.

The revised price cost is setting motorists for a higher price increase to over R1.10 this will see a litre of 95 unleaded petrol up to R12.67 in the coast and up-to R13.37 per litre for inland Such the current projection continue through to the end of the week of May.

While the price of petrol is a like a soccer game, take whatever comes and deal with it. Petrol has a few taxes and levies totalling to 49% or more which that goes to government and its departments. Let’s get a glimpse of where the money goes charged per litre. There few levies such as the General Fuel Levy and Road Accident Fund Levy.

Currently it is estimated that government will pocket over R135 billion from levies alone. Filling station take over R2.00. The estimates are for inland prices and does not costal.