Despite fuel levies and profit margins having a material impact on the price at the pumps, petrol should still be under R20 per litre in South Africa.
Petrol taxes and retail margin increases have beaten inflation by R3.50 over the past 16 years, meaning the price of petrol should be under R20.00 per litre as of August 2024.
During the period under review, South Africa’s fuel price add-ons have significantly increased over the past 16 years, with theThis represents a growth of around 255%. The retail margin on petrol prices in South Africa is the portion of the petrol price that is allocated to fuel retailers. If increased with inflation, taxes should be around R4.05 per litre while margins should be around R1.51.
Considering the burden of these taxes, in his opening address to parliament earlier this year, Ramaphosa said a key priority for the Government of National Unity is to tackle poverty and the high cost of living—including
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