{"id":137397,"date":"2016-09-20T19:05:06","date_gmt":"2016-09-20T17:05:06","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=137397"},"modified":"2016-09-20T17:55:26","modified_gmt":"2016-09-20T15:55:26","slug":"south-africans-spend-more-of-their-income-on-petrol-than-any-other-country","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/137397\/south-africans-spend-more-of-their-income-on-petrol-than-any-other-country\/","title":{"rendered":"South Africans spend more of their income on petrol than any other country"},"content":{"rendered":"

South African motorists continue to pay the highest portion of their salaries towards petrol more than any other country in the world.<\/p>\n

This is according to the Bloomberg Petrol Price Rankings<\/a><\/strong>, which notes that the average South African motorist uses 216.7 litres of petrol a year, eating up 3.71% of the average salary.<\/p>\n

The ranking looks at the per-litre fuel prices in 61 countries across the globe, and also looks at the per-litre cost of petrol as a percentage of the average daily and annual income.<\/p>\n

In the first measure, South Africa has the 16th cheapest petrol in the world, on a per litre basis at R13.02 (Q2 average).<\/p>\n

Despite the apparent ‘cheapness’ of our petrol (in September the price is even lower at R12.20 per litre) South Africans rank poorly in terms of affordability – with the 6th highest average daily spend (6.25% of daily income) and highest annual spend (3.71% of annual income) going to petrol.<\/p>\n

While this is still bad news for South African motorists, the situation has improved slightly from 2015. Last year, 6.92% of daily income went to fuel costs, while 4.11% of annual income went into petrol. It’s an even bigger improvement from 2014.<\/p>\n

Most expensive petrol<\/strong><\/p>\n

According to the Bloomberg rankings, Hong Kong has overtaken Norway as having the most expensive petrol in the world, where a litre of fuel costs R29.08.<\/p>\n

Venezuela still has the cheapest petrol at R0.09 a litre, below Kuwait and Saudi Arabia, where a litre of petrol costs R3.58 and R3.71 a litre, respectively.<\/p>\n

Venezuela’s super low fuel price is due the resource being considered a national birthright. However, the price was hiked by 6,000% in 2016 to its current levels of 9 cents.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/th>\nCountry<\/th>\nPrice per Litre<\/th>\n<\/tr>\n
1<\/td>\nHong Kong<\/td>\nR29.08<\/td>\n<\/tr>\n
2<\/td>\nNorway<\/td>\nR26.69<\/td>\n<\/tr>\n
3<\/td>\nNetherlands<\/td>\nR25.87<\/td>\n<\/tr>\n
4<\/td>\nDenmark<\/td>\nR25.24<\/td>\n<\/tr>\n
5<\/td>\nItaly<\/td>\nR25.14<\/td>\n<\/tr>\n
6<\/td>\nGreece<\/td>\nR24.66<\/td>\n<\/tr>\n
7<\/td>\nIsrael<\/td>\nR24.65<\/td>\n<\/tr>\n
8<\/td>\nFinalnd<\/td>\nR24.30<\/td>\n<\/tr>\n
9<\/td>\nSweden<\/td>\nR24.29<\/td>\n<\/tr>\n
10<\/td>\nPortugal<\/td>\nR24.01<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Petrol prices as a % of daily wage<\/h3>\n

This category refers to the portion of daily wages that would be needed to buy a litre of petrol.<\/p>\n

As with 2015’s ranking, South Africa is one of the costliest countries in the world, though it is down from 5th worst in 2015 to 6th worst in 2016.<\/p>\n

The average daily income in South Africa is R201.52, according to Bloomberg.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/th>\nCountry<\/th>\n% of average daily wage<\/th>\n<\/tr>\n
1<\/td>\nIndia<\/td>\n21.19%<\/td>\n<\/tr>\n
2<\/td>\nPakistan<\/td>\n14.98%<\/td>\n<\/tr>\n
3<\/td>\nPhilippines<\/td>\n10.48%<\/td>\n<\/tr>\n
4<\/td>\nNigeria<\/td>\n9.28%<\/td>\n<\/tr>\n
5<\/td>\nEgypt<\/td>\n7.50%<\/td>\n<\/tr>\n
6<\/strong><\/td>\nSouth Africa<\/strong><\/td>\n6.25%<\/strong><\/td>\n<\/tr>\n
7<\/td>\nIndonesia<\/td>\n5.91%<\/td>\n<\/tr>\n
8<\/td>\nThailand<\/td>\n5.77%<\/td>\n<\/tr>\n
8<\/td>\nTurkey<\/td>\n5.61%<\/td>\n<\/tr>\n
10<\/td>\nBulgaria<\/td>\n5.60%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Petrol prices as a % of annual income<\/h3>\n

This refers to the portion of annual income spent on fuel purchases.<\/p>\n

South Africa is by far the worst off here, spending the biggest annual portion on fuel price. The ranking is relatively unchanged, with Mexico (3.34% at R11.31 per litre) moving past Greece to be\u00a0ranked a distant second to SA.<\/p>\n

As with all other categories, Venzuela ranks lowest, thanks to its low petrol price.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/th>\nCountry<\/th>\n% of average annual income<\/th>\n<\/tr>\n
1<\/strong><\/td>\nSouth Africa<\/strong><\/td>\n3.71%<\/strong><\/td>\n<\/tr>\n
2<\/td>\nMexico<\/td>\n3.34%<\/td>\n<\/tr>\n
3<\/td>\nGreece<\/td>\n2.91%<\/td>\n<\/tr>\n
4<\/td>\nCanada<\/td>\n2.65%<\/td>\n<\/tr>\n
5<\/td>\nNew Zealand<\/td>\n2.49%<\/td>\n<\/tr>\n
6<\/td>\nBrazil<\/td>\n2.44%<\/td>\n<\/tr>\n
7<\/td>\nIran<\/td>\n2.43%<\/td>\n<\/tr>\n
8<\/td>\nCyprus<\/td>\n2.37%<\/td>\n<\/tr>\n
8<\/td>\nMalaysia<\/td>\n2.28%<\/td>\n<\/tr>\n
10<\/td>\nRussia<\/td>\n2.14%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

More on the petrol price<\/h3>\n

Petrol vs diesel prices in South Africa: 2006 \u2013 2016<\/strong><\/a><\/p>\n

Big drop in SA petrol price coming in September<\/strong><\/a><\/p>\n

Petrol or diesel \u2013 which car is best?<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

South African motorists continue to pay the highest portion of their salaries towards petrol more than any other country in the world.<\/p>\n","protected":false},"author":10,"featured_media":57819,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9874],"tags":[26],"class_list":["post-137397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/137397","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=137397"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/137397\/revisions"}],"predecessor-version":[{"id":137403,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/137397\/revisions\/137403"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/57819"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=137397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=137397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=137397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}