South African consumers will experience their first price drop at the pumps in six months as the price of fuel decreases by nearly a rand today.
Petrol 95 will fall by 95 cents a litre and 93 octane by 96 cents, while diesel (0.05% sulphur) will decrease by 74 cents and diesel (0.005% sulphur) by 75 c/l.
However, analysts are pointing out that consumers will have little to celebrate as electricity tariffs hikes kicked in on 1 July.
Despite the fact that the average car will cos R30 to R40 less to fill, consumers are unlikely to achieve much relief.
- Bus and taxi fares are unlikely to go down
- Electricity tariffs are increasing
- The petrol price decrease only accounts for about R2.50 for every R1 000 people have
By Jay Caboz for Business Insider SA
After last night’s increase, a litre of petrol will cost twice as much as a litre of Coke. These favourite local SA items will cost the same as – or more than – a litre of petrol will tonight.
After tonight’s price increase South Africans will be paying almost R16 per litre for petrol. In Gauteng one can expect to pay R15.79 per litre while coastal cities will pay R15.20 per litre, according to the Central Energy Fund.
The recent fuel hikes have been taxing on South African motorists who will now be forking out even more following May’s 49c per litre increase.
Business Insider South Africa visited shopping stores to see how this compared to some of South Africa’s daily items on the isles.
These favourite local SA items will cost almost the same as a litre of petrol will tonight:
- A litre of Clover Long Life Full Cream Milk – R15.99.
- A 300ml bottle of drinking yogurt (R15.08) or a 500g tub of plain low fat yogurt (R15.99).
- A 2-litre bottle of Coca-Cola – R15.99.
- A 5-litre bottle of water – R16.99.
- 750ml of No Name Cooking Oil – R15.99
- A 250ml can of Red Bull Energy Drink go for R14.99.
- A 350ml refill of Sunlight dish washing liquid.
- A six pack of hotdog rolls from Pick n Pay – R14.99.
- A kilogram of rice – R15.99.
- For the sweet tooth you can get a packet of marshmallows (R15.49), a small packet of Cadbury Tumblers Raisins (R16.13), or a 85g packet of microwave popcorn (R16.49).