South African car owners have faced significant fuel price increases for many years, and it has become a common frustration for local drivers.
The increases have been so significant that the government previously discussed the possibility of setting a cap on how high these prices can go.
Former energy minister Jeff Radebe announced this publicly in October 2018, highlighting that the government was cognizant of the financial strain that fuel price increases place on South Africans.
“Government is deeply concerned by the rising cost of petrol in South Africa, which is largely caused by the rand-dollar exchange rate and the price of crude [oil],” Radebe said.
However, speaking to BusinessTech in April, a Department of Energy spokesperson said that it was still too early to comment on the possible introduction of a fuel cap.
“The draft report is being discussed internally at the moment. The department will issue a media statement once the internal consultation is concluded,” they said.
Fuel price increases
Information provided to the Alberton Record by the Department of Energy shows that the petrol price in the year 2000 was just R1,73 per litre if one averages out 95 and 93 unleaded petrol prices.
However, this is a fraction of what drivers have been paying in recent years.
The AA offers a history of fuel prices on its website to help South Africans stay abreast of their financial expenses.
This tracks a variety of fuel types and separates coastal and inland prices for consumer convenience.
The data shows that fuel prices have increased by more than double since 2009, with unleaded petrol showing the largest price increase over the course of this period.
There was a notable drop in fuel prices in 2014, which was primarily due to crude oil prices dropping from $110 to $60 per barrel between August 2014 and February 2015.
Fuel prices per litre for the past 10 years are outlined below.
|Petrol – 93 Unleaded||Petrol – 95 Unleaded||Diesel – 500PPM||Diesel – 50PPM|
|Fuel prices – Coastal|
|Petrol – 95 Unleaded||Diesel – 500PPM||Diesel – 50PPM|