{"id":263289,"date":"2018-08-06T11:42:50","date_gmt":"2018-08-06T09:42:50","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=263289"},"modified":"2018-08-06T11:42:50","modified_gmt":"2018-08-06T09:42:50","slug":"how-south-africas-petrol-price-compares-to-the-rest-of-the-world","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/motoring\/263289\/how-south-africas-petrol-price-compares-to-the-rest-of-the-world\/","title":{"rendered":"How South Africa’s petrol price compares to the rest of the world"},"content":{"rendered":"

Motorists around the world are facing the effects of increasing fuel prices\u00a0according to Bloomberg\u2019s latest\u00a0Gasoline Index<\/a><\/strong>, which focused on global petrol prices over the course of the second quarter of 2018.<\/p>\n

The index includes data from 61 countries, and the information is sorted by average fuel price, affordability, and the percentage of a day\u2019s wages needed to buy a unit of petrol.<\/p>\n

Bloomberg found that petrol prices are soaring around the world – about 6%, on average, in the past three months and 15% over the past year. Behind that increase is a wide range of price swings experienced differently by every nation.<\/p>\n

Despite not having the most expensive petrol in the world at R16.03 for a litre of 95 petrol, Bloomberg said that South Africa’s other economic issues meant it is now one of the most expensive places in the world to be a motorist.<\/p>\n

“South Africans face a lot of pain at the pump, exacerbated by how little income they earn,” Bloomberg said. “They now spend more of their paycheques filling up than any other nation except Mexico.”<\/p>\n

The prices below are not adjusted for purchasing price parity.<\/em><\/p>\n

Most expensive petrol in the world<\/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>\nR28.44<\/td>\n<\/tr>\n
60<\/td>\nNorway<\/td>\nR27.41<\/td>\n<\/tr>\n
59<\/td>\nNetherlands<\/td>\nR26.15<\/td>\n<\/tr>\n
58<\/td>\nGreece<\/td>\nR25.96<\/td>\n<\/tr>\n
57<\/td>\nItaly<\/td>\nR25.94<\/td>\n<\/tr>\n
56<\/td>\nDenmark<\/td>\nR25.74<\/td>\n<\/tr>\n
55<\/td>\nIsrael<\/td>\nR25.33<\/td>\n<\/tr>\n
54<\/td>\nPortugal<\/td>\nR24.81<\/td>\n<\/tr>\n
53<\/td>\nFinland<\/td>\nR24.27<\/td>\n<\/tr>\n
52<\/td>\nFrance<\/td>\nR24.22<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
\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 (57th).<\/p>\n

With an average daily income of R237.13, it takes 6.53%\u00a0of a day\u2019s wages to afford a litre of petrol in South Africa \u2013 compared to just 1.16% in Denmark\u00a0 and 1.36% in the Netherlands\u00a0 \u2013 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>\nIndia<\/td>\n20.49%<\/td>\n<\/tr>\n
60<\/td>\nPakistan<\/td>\n19.07%<\/td>\n<\/tr>\n
59<\/td>\nPhilippines<\/td>\n12.44%<\/td>\n<\/tr>\n
58<\/td>\nNigeria<\/td>\n8.00%<\/td>\n<\/tr>\n
57<\/strong><\/td>\nSouth Africa<\/strong><\/td>\n6.53%<\/strong><\/td>\n<\/tr>\n
56<\/td>\nIndonesia<\/td>\n6.26%<\/td>\n<\/tr>\n
55<\/td>\nEgypt<\/td>\n6.21%<\/td>\n<\/tr>\n
54<\/td>\nThailand<\/td>\n5.71%<\/td>\n<\/tr>\n
53<\/td>\nBulgaria<\/td>\n5.46%<\/td>\n<\/tr>\n
52<\/td>\nTurkey<\/td>\n5.19%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/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, the average South African driver uses 202.07 litres a year, which eats up 3.62% of the typical South African\u2019s annual salary.<\/p>\n

This is behind only Mexico, where motorists spend around\u00a03.94% of their average annual salary 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>\nMexico<\/td>\n3.94%<\/td>\n<\/tr>\n
60<\/strong><\/td>\nSouth Africa<\/strong><\/td>\n3.62%<\/strong><\/td>\n<\/tr>\n
59<\/td>\nCanada<\/td>\n3.01%<\/td>\n<\/tr>\n
58<\/td>\nGreece<\/td>\n2.95%<\/td>\n<\/tr>\n
57<\/td>\nSaudi Arabia<\/td>\n2.87%<\/td>\n<\/tr>\n
56<\/td>\nBrazil<\/td>\n2.80%<\/td>\n<\/tr>\n
55<\/td>\nNew Zealand<\/td>\n2.56%<\/td>\n<\/tr>\n
54<\/td>\nMalaysia<\/td>\n2.56%<\/td>\n<\/tr>\n
53<\/td>\nCyprus<\/td>\n2.30%<\/td>\n<\/tr>\n
52<\/td>\nRussia<\/td>\n2.20%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
\n

Neighbouring countries<\/strong><\/p>\n

One of the more interesting comparisons to make is how much petrol South Africa pays compared to its neighbouring countries<\/p>\n

For example the cost of petrol in Botswana was just R10.72 at the end of July, while it would cost you around R12.84 for a litre in Swaziland.<\/p>\n

Below are the latest comparisons as of\u00a030 July 2018.<\/p>\n