R10-billion fix for high petrol prices in South Africa

In 2008 the rand was hovering round the R11 to the dollar.
Oil hit $147 per barrel.
Petrol was about R10 per liter.

Now we have R30 per liter which is 3 times as much.
Rand is about R16,50
Oil price is about $90 per barrel.

We are just being screwed solidly here.

RAF is totally unnecessary
Fuel levy just pads the Government coffers.
Retail margin just makes petrol station owners extremely rich.
 
Now just imagine if you had some foresight and threw this money at electric car initiatives say some 10 years ago already...then we may not have been in this situation right now.
 
Fuzzbox said:
In 2008 the rand was hovering round the R11 to the dollar.
Oil hit $147 per barrel.
Petrol was about R10 per liter.

Now we have R30 per liter which is 3 times as much.
Rand is about R16,50
Oil price is about $90 per barrel.

We are just being screwed solidly here.

RAF is totally unnecessary
Fuel levy just pads the Government coffers.
Retail margin just makes petrol station owners extremely rich.
Click to expand...
Refining costs have also gone up due refining capacity worldwide at 97%.
1791552884659.png1791552931230.png
 
Inflation in Japan is very low
Japan refines all its own fuel
Eight oil tankers discharge oil every day. The is a continuous line of oil tankers delivering oil to Japan
The govt is efficiently run
Corruption as we have here is virtually unknown
 
chrisc said:
Inflation in Japan is very low
Japan refines all its own fuel
Eight oil tankers discharge oil every day. The is a continuous line of oil tankers delivering oil to Japan
The govt is efficiently run
Corruption as we have here is virtually unknown
Click to expand...
Fuel price dictates inflation and locally refined fuel still has to use international fuel price.
 
chrisc said:
Inflation in Japan is very low
Japan refines all its own fuel
Eight oil tankers discharge oil every day. The is a continuous line of oil tankers delivering oil to Japan
The govt is efficiently run
Corruption as we have here is virtually unknown
Click to expand...
More to do with they have a large reserve they're burning through, they're directly subsidizing it, and they removed taxes on it.
Fuzzbox said:
In 2008 the rand was hovering round the R11 to the dollar.
Oil hit $147 per barrel.
Petrol was about R10 per liter.

Now we have R30 per liter which is 3 times as much.
Rand is about R16,50
Oil price is about $90 per barrel.

We are just being screwed solidly here.

RAF is totally unnecessary
Fuel levy just pads the Government coffers.
Retail margin just makes petrol station owners extremely rich.
Click to expand...
In 2008 it was closer to R8/$1, and taxes went from around a quarter of the price to nearly half.

Best thing government could do is decrease the fuel levy for longer as it has such a knock on effect on everything else, and then increase the tax later again. The issue is fhat they don't really have other sources of income they can tap as taxes in general are already very high, anything they do will dampen the economy.
 
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