When Is Petrol Going Up In South Africa?
As gasoline and diesel prices increase once more for July 2022, motorists in SA continue to experience anguish and misery.
July 2022 will see another month of gasoline price rises for South African drivers. The most recent price hikes will bring petrol closer to R27 per litre.
What Is The Current Price?
Currently, the following are the fuel price hikes for July 2022: Fuel prices for grades 93 and 95 will increase by R2.37 and R2.57 per litre. Diesel prices have also increased, with 0.05% sulphur adding R2.31 to the price and 0.005% sulphur adding R2.30. Paraffin (wholesale) lighting up by R1.66.
What Is The Reason For The Hike?
To lessen the damage, the SA government decreased the petrol price tax by R1.50 per litre in April 2022. However, as of this week’s news, this drop will be reduced to 75 cents, which will only make the agony worse.
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What Are The Price Indicators?
In South Africa, the cost of gasoline and diesel is determined by both the oil price and the currency rate (oil is purchased in dollars). Russia is the third-largest oil producer in the world, and sanctions have prevented it from exporting to Western markets. Thus the situation in Ukraine has been a significant factor.
Should More Hikes Be Expected?
We anticipate more significant rises because there doesn’t seem to be any relief in sight (load-shedding may be an option).
