South Africans may pay less for fuel than other countries but are generally paying a larger part of their income on petrol.
Notably, many countries that pay a significant amount for petrol – especially those in Europe – depend on Russian oil. Russia’s invasion of Ukraine has devasted global energy supply chains, resulting in much higher fuel prices.
Africa has not been immune to this, either, with South Africa through to the Central African Republic,Norway, on the other hand, is a nation that is incredibly oil-rich but charges a significant amount for petrol. This is because the fuel in the Nordic country is highly taxed. Moreover, the nation is highly invested in electric cars – four of five new vehicles bought are electric – and high fuel prices incentivise consumers away fromMeanwhile, Hong Kong, Singapore and Monaco are all city-states that rely on refined fuel imports and thus pay a lot more for petrol.Although many countries spend more per litre of petrol, not all of them pay a greater part of their yearly earnings on fuel than South Africa.
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