Almost 60% of the petrol price now goes to taxes, levies and margins
- Close to 60% of the petrol price is now made up of taxes, margins and distribution costs.
- Fuel taxes have rocketed from R1.76 a litre in 2008 to R5.63 in 2019 - a 220% increase.
Margins, taxes and distribution costs make up R8.64 a litre of the petrol price inland, and R8.13 at the coast - a full 58% of the retail price.
This number is set to rise even further in the next two months, as new levies of 29c a litre take effect.
The price of unleaded petrol jumped by 74c inland to R14.82 on Wednesday - still R2.26 short of October’s record high prices.
Unleaded petrol will cost R14.30 at the coast.
The petrol price includes a wholesale margin of 34.8c, a storage cost of 20.9c, a distribution cost of 14.6c, a retail margin of 19.8c, and a “zone differential in Gauteng” of 51.7c.
Additional taxes, including the fuel levy, customs, and Road Accident Fund (RAF) levy, accounts for R5.34 of total fuel cost - or 36%.
In February, the National Treasury announced that the fuel levy will increase by 15c to R3.52 in April, the RAF levy by 5c to R1.98 and a additional carbon levy of 9c will be added in June.
Overall, taxes on fuel increased from R1.76 in 2008 to R5.63 in 2019 - a 220% rise.
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