{"id":116060,"date":"2016-03-09T19:11:55","date_gmt":"2016-03-09T17:11:55","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=116060"},"modified":"2016-03-09T19:54:56","modified_gmt":"2016-03-09T17:54:56","slug":"south-africas-petrol-price-vs-the-world","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/116060\/south-africas-petrol-price-vs-the-world\/","title":{"rendered":"South Africa’s petrol price vs the world"},"content":{"rendered":"

Current data shows that South Africa has some of the more affordable petrol in the world – but we’re still spending more of our salaries on petrol than any other country.<\/p>\n

South Africa currently has the\u00a045th\u00a0most affordable petrol in the world,\u00a0according to data from Globalpetrolprices.com<\/a>, which tracks the weekly changes in the petrol and diesel prices in 174 countries globally.<\/p>\n

The data found that the average fuel price in SA between November 2015 and March 2016 was R12.31 per litre ($0.77*),\u00a0versus the average global price over the period, which\u00a0was\u00a0R17.55\u00a0($1.10\u00a0per litre).<\/p>\n

In dollar terms, South Africa’s current petrol price is on par with countries such as Tajikistan, the Philippines, Tunisia and Afghanistan at an average $0.77 (R11.88) a litre – half the price of countries including the UK, Portugal and Sweden.<\/p>\n

Topping the list with the most expensive petrol is Hong Kong, where a litre of petrol costs $1.78 (R27.46) – while the cheapest petrol is found in Kuwait, at $0.23 (R3.55) a litre.<\/p>\n

Here are the countries with the most and least expensive petrol in the world.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/th>\nCountry<\/th>\nAverage fuel price (US$)<\/th>\nAverage fuel price (ZAR**)<\/th>\n<\/tr>\n
1<\/td>\nKuwait<\/td>\n$0.23<\/td>\nR3.55<\/td>\n<\/tr>\n
2<\/td>\nSaudi Arabia<\/td>\n$0.25<\/td>\nR3.86<\/td>\n<\/tr>\n
3<\/td>\nTurkmenistan<\/td>\n$0.30<\/td>\nR4.63<\/td>\n<\/tr>\n
4<\/td>\nAlgeria<\/td>\n$0.31<\/td>\nR4.78<\/td>\n<\/tr>\n
5<\/td>\nUAE<\/td>\n$0.37<\/td>\nR5.71<\/td>\n<\/tr>\n
5<\/td>\nQatar<\/td>\n$0.37<\/td>\nR5.71<\/td>\n<\/tr>\n
7<\/td>\nOman<\/td>\n$0.39<\/td>\nR6.02<\/td>\n<\/tr>\n
7<\/td>\nMalaysia<\/td>\n$0.39<\/td>\nR6.02<\/td>\n<\/tr>\n
7<\/td>\nEcuador<\/td>\n$0.39<\/td>\nR6.02<\/td>\n<\/tr>\n
10<\/td>\nKazakhstan<\/td>\n$0.40<\/td>\nR6.17<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
45<\/td>\nSouth Africa<\/td>\n0.77<\/td>\nR11.88<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nGlobal Average<\/strong><\/td>\n0.96<\/strong><\/td>\nR14.84<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
165<\/td>\nPortugal<\/td>\n$1.46<\/td>\nR22.53<\/td>\n<\/tr>\n
166<\/td>\nMauritania<\/td>\n$1.48<\/td>\nR22.84<\/td>\n<\/tr>\n
167<\/td>\nSweden<\/td>\n$1.49<\/td>\nR22.99<\/td>\n<\/tr>\n
168<\/td>\nMayotte<\/td>\n$1.50<\/td>\nR23.15<\/td>\n<\/tr>\n
169<\/td>\nItaly<\/td>\n$1.51<\/td>\nR23.30<\/td>\n<\/tr>\n
170<\/td>\nDenmark<\/td>\n$1.54<\/td>\nR23.76<\/td>\n<\/tr>\n
171<\/td>\nMonaco<\/td>\n$1.61<\/td>\nR24.84<\/td>\n<\/tr>\n
172<\/td>\nNetherlands<\/td>\n$1.64<\/td>\nR25.31<\/td>\n<\/tr>\n
173<\/td>\nNorway<\/td>\n$1.67<\/td>\nR25.77<\/td>\n<\/tr>\n
174<\/td>\nHong Kong<\/td>\n$1.78<\/td>\nR27.47<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Looking at average\u00a0diesel prices<\/a>, Venezuela tops out having the cheapest diesel $0.01 per litre, while Norway has the highest cost for diesel at $1.52.<\/p>\n

South Africa’s diesel prices are ranked as the 67th most affordable at $0.73 per litre, along with India, Singapore, Yemen, Swaziland, Guyana and the Republic of Congo.<\/p>\n

South African prices are still expensive<\/strong><\/p>\n

Despite South Africa’s ‘favourable’ petrol prices compared to other countries, South Africans still pay a bigger portion of our salaries at the pumps.<\/p>\n

According to Bloomberg’s gas price rankings<\/a>, local consumers pay the greatest portion of their salaries towards fuel than any other country listed.<\/p>\n

This is due to large travelling distances between economic hubs, and a lack of efficient public transport.<\/p>\n

South Africans pay 4.1% of their total annual income for petrol, Bloomberg said – and more petrol price pain is on the way, if the current economic climate continues.<\/p>\n

Daily data published by the Central Energy Fund <\/a>shows that petrol and diesel prices in South Africa are showing an under-recovery – meaning that prices are expected to climb if current rates persist.<\/p>\n

Petrol 95 is showing an under-recovery of 2\u00a0cents per litre, while diesel (both 0.05% and 0.0055 sulphur) is showing an under-recovery of around 50 cents per litre. Petrol 93 has an over-recovery of 3 cents.<\/p>\n

In late February, finance minister Pravin Gordhan also announced that the national fuel levy will be hiked by 30 cents – so from April, motorists could be paying as much as 33 cents more at the pumps for petrol, and 80 cents more for diesel.<\/p>\n

* At the average exchange rate of R15.98 over the period
\n** USD 1 = ZAR 15.43<\/small><\/p>\n

More on petrol<\/h3>\n

How the new fuel levy will hit South Africa\u2019s petrol price<\/a><\/strong><\/p>\n

SA petrol price to drop 69 cents on Wednesday<\/a>\u00a0(March 2016)<\/strong><\/p>\n

Watch: Truck crashes into petrol station in SA<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Current data shows that South Africa has some of the more affordable petrol in the world – but we’re still spending more of our salaries on petrol than any other country.<\/p>\n","protected":false},"author":10,"featured_media":116136,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9874],"tags":[26,3994],"class_list":["post-116060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-headline","tag-petrol"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/116060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=116060"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/116060\/revisions"}],"predecessor-version":[{"id":116124,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/116060\/revisions\/116124"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/116136"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=116060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=116060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=116060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}