{"id":243595,"date":"2018-05-10T14:17:24","date_gmt":"2018-05-10T12:17:24","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=243595"},"modified":"2018-05-10T14:26:30","modified_gmt":"2018-05-10T12:26:30","slug":"south-africa-is-one-of-the-most-expensive-places-in-the-world-to-fill-your-tank","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/243595\/south-africa-is-one-of-the-most-expensive-places-in-the-world-to-fill-your-tank\/","title":{"rendered":"South Africa is one of the most expensive places in the world to fill your tank"},"content":{"rendered":"

Motorists around the world are suffering from the effects of a high oil price and the resurgent dollar – but South Africa is still worse off than most other countries.<\/p>\n

This is according to Bloomberg’s latest Gasoline Index<\/a><\/strong>, which notes that petrol prices have increased globally by about 6.1%, on average, in the past three months.<\/p>\n

The index is based on the average fuel price as well as the percentage of a day\u2019s wages needed to buy a unit of gas. Also considered is the percentage of personal income spent each year filling up.<\/p>\n

It found that South Africa ranks\u00a0relatively fairly at 20th when it comes to the actual price of petrol in the country – at an average of\u00a0 R14.19 for a litre of 95-octane petrol in the first quarter of 2018.<\/p>\n

This puts it behind countries such as Iran (R3.13\/litre) and the USA (R9.53), but ahead of countries such as New Zealand (R19.35) and the Netherlands (R23.81).<\/p>\n

However Bloomberg notes that the country’s low-income level means that high petrol prices hit local commuters particularly hard.<\/p>\n

“South Africans face a lot of pain at the pump, exacerbated by how little income they earn,” Bloomberg said. “Only in Mexico do people spend more of their paychecks fueling up.”<\/p>\n

Most expensive petrol in the world\u00a0<\/strong><\/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
61<\/td>\nHong Kong<\/td>\nR25.01<\/td>\n<\/tr>\n
60<\/td>\nNorway<\/td>\nR24.91<\/td>\n<\/tr>\n
59<\/td>\nNetherlands<\/td>\nR23.81<\/td>\n<\/tr>\n
58<\/td>\nGreece<\/td>\nR23.47<\/td>\n<\/tr>\n
57<\/td>\nItaly<\/td>\nR23.22<\/td>\n<\/tr>\n
56<\/td>\nDenmark<\/td>\nR22.97<\/td>\n<\/tr>\n
55<\/td>\nIsrael<\/td>\nR22.83<\/td>\n<\/tr>\n
54<\/td>\nPortugal<\/td>\nR22.37<\/td>\n<\/tr>\n
53<\/td>\nFrance<\/td>\nR22.26<\/td>\n<\/tr>\n
52<\/td>\nSweden<\/td>\nR21.94<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
\n

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

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

Bloomberg found that South Africa is one of the worst countries in the world when it comes to the affordability of petrol when it comes to daily wages (56th) – behind only Indonesia, Nigeria, the Philippines, Pakistan and India.<\/p>\n

With an average daily income of R237.13, it takes\u00a05.98%\u00a0of a day\u2019s wages to afford a litre of petrol in South Africa – compared to just 1.11% in the Netherlands and 0.90% % in Norway – which would explain their perceived high prices.<\/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
61<\/td>\n\u00a0India<\/td>\n20.11%<\/td>\n<\/tr>\n
60<\/td>\n\u00a0Pakistan<\/td>\n17.84%<\/td>\n<\/tr>\n
59<\/td>\n\u00a0Philippines<\/td>\n11.39%<\/td>\n<\/tr>\n
58<\/td>\n\u00a0Nigeria<\/td>\n8.71%<\/td>\n<\/tr>\n
57<\/td>\n\u00a0Indonesia<\/td>\n6.06%<\/td>\n<\/tr>\n
56<\/strong><\/td>\n\u00a0South Africa<\/strong><\/td>\n5.98%<\/strong><\/td>\n<\/tr>\n
55<\/td>\n\u00a0Thailand<\/td>\n5.55%<\/td>\n<\/tr>\n
54<\/td>\n\u00a0Egypt<\/td>\n5.29%<\/td>\n<\/tr>\n
53<\/td>\n\u00a0Turkey<\/td>\n5.06%<\/td>\n<\/tr>\n
52<\/td>\n\u00a0Bulgaria<\/td>\n5.01%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
\n

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

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

According to Bloomberg\u00a0the average South African driver uses\u00a0202.07<\/span>\u00a0liter<\/span>s a year, which eats up\u00a03.31%<\/span>\u00a0of the typical South African’s annual salary.<\/p>\n

In contrast Mexicans (61st) use 3.82% of their annual income on fuel costs, while 59th place Canada use 2.99% of their salaries.<\/p>\n

On the other end of the scale, Hong Kong residents (2nd) use just 0.49% of their annual income on petrol.<\/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
61<\/td>\n\u00a0Mexico<\/td>\n3.82%<\/td>\n<\/tr>\n
60<\/strong><\/td>\n\u00a0South Africa<\/strong><\/td>\n3.31%<\/strong><\/td>\n<\/tr>\n
59<\/td>\n\u00a0Canada<\/td>\n2.99%<\/td>\n<\/tr>\n
58<\/td>\n\u00a0Saudi Arabia<\/td>\n2.87%<\/td>\n<\/tr>\n
57<\/td>\n\u00a0Greece<\/td>\n2.82%<\/td>\n<\/tr>\n
56<\/td>\n\u00a0Brazil<\/td>\n2.58%<\/td>\n<\/tr>\n
55<\/td>\n\u00a0Malaysia<\/td>\n2.56%<\/td>\n<\/tr>\n
54<\/td>\n\u00a0New Zealand<\/td>\n2.41%<\/td>\n<\/tr>\n
53<\/td>\n\u00a0Cyprus<\/td>\n2.15%<\/td>\n<\/tr>\n
52<\/td>\n\u00a0United States<\/td>\n2.07%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
\n

Read:\u00a0More petrol price pain on the horizon<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Motorists around the world are suffering from the effects of a high oil price and the resurgent dollar – but South Africa is still worse off than most other countries.<\/p>\n","protected":false},"author":10,"featured_media":8788,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9874],"tags":[1850,26],"class_list":["post-243595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-bloomberg","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/243595","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=243595"}],"version-history":[{"count":17,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/243595\/revisions"}],"predecessor-version":[{"id":243605,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/243595\/revisions\/243605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/8788"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=243595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=243595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=243595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}