Here’s how SA’s fuel price compares to the rest of the WORLD

Unfortunately, it’s not good news for cash-strapped motorists, with massive fuel price increases on the way next week (September 2023). Nevertheless, despite the huge increase, we wanted to see how SA’s fuel price compares to other countries around the world.

SEPTEMBER 2023 FUEL PRICE INCREASE

Before we get into that, let’s see how much you’ll be paying at the pumps next week. According to the latest CEF data, fuel is expected to climb:

• R1.59 per litre for ULP93
• R1.65 per litre for ULP95
• R2.85 per litre for Diesel

Considering these potential increases:

• ULP93 will increase from R22.43 to R24.02 per litre
• ULP95 will increase from R22.83 to R24.48 per litre
• Diesel will increase from R20.21 to R23.06 per litre

These are the highest fuel prices in SA since August 2022 but not at the record highs seen in July 2022, notes the Automobile Association (AA)

HOW SA’S FUEL PRICE COMPARES

Although these increases are scary and could have far-reaching implications for food prices and general inflation, we wanted to see how SA’s fuel price compares to the rest of the world. For this, we turned to GlobalPetrolPrices.com.

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What you’ll find is despite hitting near-record highs next week, the petrol price in SA is still pretty affordable compared to most countries. To make sense of this, all you need do is visit GlobalPetrolPrices and change units per litre into South African Rand (prices correct as of 28 August 2023).

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What’ll find is SA’s fuel price is decidedly average. According to the site, the cheapest fuel is found in Venezuela, Iran and Libya at roughly R6 per litre. The most expensive is Hong Kong at a whopping R56 per litre. And our R22-R24 per litre puts us slap bang in the middle.

GLOBAL COMPARISON

We found it interesting to see how SA’s fuel price compares to certain nations though. We’ve pulled together a quick list of 15 topical countries. Our fuel price compared to many developed nations is actually very affordable. In fact, the price of fuel in many large European countries is nearly double that in South Africa.

(prices correct as of 28 August 2023)

What do you think of next week’s fuel price hike? Are you struggling to make ends meet and are dreading the increase? Also, what do you think of our fuel price compared to other nations? Share your thoughts with our audience in the comments section below.

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