South African petrol prices will increase to a record-breaking R17.08 inland this week – up from R9.41 in October 2008.
And at the coast, a litre petrol will cost you R16.49 compared to R9.17 ten years ago.
Over the same period, the tax (or fuel levy) on a litre of petrol increased from a low of R1.27 in October 2008 to R3.37 in October 2018.
This means the tax on fuel increased by 165.35% in ten years.
Energy minister Jeff Radebe attributed the sharp increase in the petrol price to the weakening rand against the US dollar and rising Brent crude oil prices.
“Geopolitical tensions are having a very negative impact on crude oil prices and consequently refined product prices globally,” Radebe said in a statement.
US president Donald Trump recently announced fresh sanctions against Iran, the world’s third largest oil producer, which will likely see the price of crude oil rise even further.
Here’s how South Africa’s petrol prices and fuel levy increased the past 10 years:
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