In South Africa, about 25% of the price paid at the pump goes directly to taxes.
As of 1 May, South Africans will need to brace themselves to dig deeper into their pockets at the pump as new fuel price hikes and the continuation of previous tax increases take effect.
A large portion of South Africa’s petrol price is paid through levies, with the General Fuel Levy and the Road Accident Fund Levy accounting for the biggest chunks.or Road Accident Fund , there were marginal increases, such as the 1 cent and 3 cents per litre hike to the carbon tax for petrol and diesel, respectively.
With effect from 1 April 2024, the Fuel Levy in the price structure of petrol and diesel amounts to 396 c/l and 384 c/l respectively.R6.40 per litre goes towards some form of tax or levyOther costs associated with the petrol price include transport costs , customs and excise duties, retail margins paid to fuel station owners, and secondary storage costs.
As of Wednesday , South African motorists are paying R25.49 per litre of 95-octane unleaded petrol, while diesel users are paying R22.24 per litre for 0.005% inland.The Department of Energy’s latest fuel price adjustments show the following changes will take effect from Wednesday, 1 May 2024:The movement in prices is typically affected by two main factors – international petroleum costs, and the movement in the rand/dollar exchange rate.
The average international product prices for Petrol increased during the period under review, while the rand depreciated against the US dollar, on average, when compared to the previous period.Digicloud Africa and JumpCloud CEOs explain how their companies are enabling remote working in South AfricaBusiness
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