This is why South African motorists are not enjoying the full benefit of lower international fuel prices. IOLMotoring Day55ofLockdown
Johannesburg - Plummeting international oil prices have resulted in some much-needed fuel price decreases for South Africans in recent months, with Covid-19 having given oil markets a Chuck Norris-style roundhouse kick.
But putting next month’s inevitable price hike aside or a moment, the sad reality is that today’s fuel prices reflect international oil prices at the bottom of the curve, and more than three times lower than they were at the top of the last peak in 2018, and yet fuel is not three times cheaper at the pumps.
Currently there are two levies imposed on South African fuel prices, the General Fuel Levy and the Road Accident Fund levy . To give us more perspective into the fuel price situation, the Automobile Association has compiled a price breakdown using coastal 95 Unleaded petrol and inland 93 Unleaded. “South Africa’s fuel price is comprised of many different elements, some of which make fuel in the country more expensive than that in neighbouring countries to which South Africa exports,” the AA said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Covid-19 deaths rocket over the age of 50, Western Cape stats showCovid-19 is attacking the young but killing the old, according to statistics from the Western Cape.
Read more »
50 days in lockdown then 30 days out could be SA's golden cycleAn 18-month cycle of 50 days of strict lockdown followed by 30 days of easing could peg SA's Covid-19 fatalities to just over 9,000 and allow the health system to cope, says an international team of researchers.
Read more »
Covid-19 deaths rocket over the age of 50, Western Cape stats showCovid-19 is attacking the young but killing the old, according to statistics from the Western Cape.
Read more »
Why the UK is likely to face lasting damage from pandemicThe chancellor of the exchequer is expected to face questions amid the growing speculation about how the UK will pay for the big increase in borrowing
Read more »
ANALYSIS: Why more must be done to fight bogus COVID-19 cure claimsAuthorities around the world can do more to ensure that correct information and messages on the pandemic reach everybody.
Read more »
ANALYSIS: This is why economic policy remains hotly contested in South AfricaA new book sheds new light on the evolution of the economic policy of the African National Congress, South Africa's governing party.
Read more »