{"id":321227,"date":"2019-06-08T11:00:20","date_gmt":"2019-06-08T09:00:20","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=321227"},"modified":"2019-06-07T16:48:29","modified_gmt":"2019-06-07T14:48:29","slug":"heres-how-south-africas-petrol-price-has-rocketed-since-the-start-of-2019","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/motoring\/321227\/heres-how-south-africas-petrol-price-has-rocketed-since-the-start-of-2019\/","title":{"rendered":"Here’s how South Africa’s petrol price has rocketed since the start of 2019"},"content":{"rendered":"

The Department of Energy this week pushed up the price of petrol and diesel for June 2019 – due to a carbon tax rise, and a slight increase in the fuel levy.<\/p>\n

The economy also suffered its worst quarterly growth figure since the 2008 financial crisis, with Q1 2019 GDP contracting by 3.2%.<\/p>\n

Household incomes remain under pressure as salaries are expected to stretch further, said Ghana Msibi, WesBank executive head of motor.<\/p>\n

“Consider that fuel price inflation year-on-year is 9.2%<\/strong>, while WesBank\u2019s average deal size for new vehicles has increased more in line with official inflation at 4.8%,” he said.<\/p>\n

“The difference in fuel price since January this year is as much as R2.77 for every litre of 93 unleaded – which gives a very real sense of how much further salaries have to go.”<\/p>\n

\n
\n\n\n\n\n\n\n\n\n
Month<\/th>\n95 Petrol<\/th>\n93 Petrol<\/th>\n0.05% Diesel (wholesale)<\/th>\n<\/tr>\n
January<\/strong><\/a><\/td>\nR14.01<\/td>\nR13.79<\/td>\nR13.13<\/td>\n<\/tr>\n
February<\/strong><\/a><\/td>\nR14.08<\/td>\nR13.86<\/td>\nR13.14<\/td>\n<\/tr>\n
March<\/strong><\/a><\/td>\nR14.82<\/td>\nR14.60<\/td>\nR14.05<\/td>\n<\/tr>\n
April<\/strong><\/a><\/td>\nR16.13<\/td>\nR15.94<\/td>\nR14.87<\/td>\n<\/tr>\n
May<\/strong><\/a><\/td>\nR16.67<\/td>\nR16.48<\/td>\nR14.88<\/td>\n<\/tr>\n
June<\/strong><\/a><\/td>\nR16.76<\/td>\nR16.57<\/td>\nR15.21<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Car sales<\/strong><\/p>\n

The high petrol prices are also eating into South African sales which declined for the fourth time in five months in May.<\/p>\n

Industry sales for May declined 5.7% to 40,506 units compared to May 2018, according to figures released by the National Automobile Association of South Africa (Naamsa).<\/p>\n

\u201cWe had warned against hopes of a major turn-around last month,\u201d said Msibi. \u201cMay sales return to a picture more representative of the rest of the year.”<\/p>\n

He added that there were no winners in the various segment performances, apart from a marginal 0.3% gain in Medium Commercials.<\/p>\n

Passenger cars declined 1.4% to 26,170, while Light Commercial Vehicles (LCVs) traded 13% down year-on-year.<\/p>\n

While volumes month-on-month increased during May, this is as a result of a standard sales month versus April\u2019s fewer selling days.<\/p>\n

Despite these really tough trading conditions, demand appears to be more positive according to increased applications for both new and used finance according to WesBank data, said Msibi.<\/p>\n

“Hopefully more certain trading conditions for the remainder of the year can convert this demand into deals.”<\/p>\n

\n

Read: South Africa\u2019s carbon tax will now cost a bit less<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The Department of Energy this week pushed up the price of petrol and diesel for June 2019 – due to a carbon tax rise, and a slight increase in the fuel levy.<\/p>\n","protected":false},"author":10,"featured_media":57819,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11119],"tags":[26,6619],"class_list":["post-321227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-motoring","tag-headline","tag-wesbank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/321227","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=321227"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/321227\/revisions"}],"predecessor-version":[{"id":322275,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/321227\/revisions\/322275"}],"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=321227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=321227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=321227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}