Guiding consumers since 2009

Consumers to feel pain at the pumps

By Staff Writer

Last week the Department of Energy said all grades of petrol would go up by 81 cents a litre from this Wednesday (6 March, 2013), while the wholesale diesel price will jump by 57 cents a litre. This means the price of petrol is now R13.08 and R12.87 in Gauteng.


But consumers are in for father pain. Last week finance minister, Pravin Gordhan, said the Road Accident Fund (RAF) levy will increase by 8 cents a litre and the fuel levy will increase by 15 cents and that these increases will kick in from the 1 April.


However, South Africans don’t pay the most for their petrol. According to the latest Bloomberg Gas Price Ranking which sorts 60 countries by average price at the pump and "pain at the pump", which measures the percentage of average daily income needed to buy a gallon of fuel, South Africa ranks no 41 and 11 respectively. The report said: “South Africans do face pain at the pump, the 11th most overall, which is made worse by the amount they consume.”
 

What's the solution?
 

Besides taking public transport or creating a car pool, drivers can drive more efficiently to save on fuel. For more on this check out our story 'Drive smart and save on fuel'.

Recent Articles

Featured Everything you should know about tax auto assessment

In 2019, the South African Revenue Service (SARS) launched a system, which was dubbed an “auto assessment”, to assist taxpayers with their annual tax returns. But what does this system entail, and how will it impact you?

What does it mean to be a registered Financial Services Provider?

You may have noticed that financial institutions state that they’re registered Financial Services Providers (FSP). But what does this actually mean, and how does this benefit you as a consumer?

Should the retirement age change?

Across the world, people are retiring later than they used to. However, retirement products are centred around set retirement ages at which point you’d be able to access your retirement savings. But how applicable is the current retirement age in South Africa?

Everything you need to know about wills

Death can leave a lot of confusion and chaos. What happens to your possessions when you die can have a profound effect on those you leave behind. But you can soften the impact by drawing up a will.

Deals

Get 30% off your gym membership with Absa student account

Price: Available on request
When: Daily
Where: Nationwide

Get 10% discount on Rentalcars.com

Price: Available on request
When: Daily
Where: Worldwide

Get up to R5 back in rewards points when buying fuel

Price: Available on request
When: Daily
Where: Nationwide


Latest Guide

Guide to debt rehabilitation solutions