While much of South Africa was built on the back of gold, liquid gold ran much of 2022 through the fuel price.
Local fuel levies, coupled with the war in Ukraine, saw South Africans pay a record R26/l for unleaded 93 petrol this year.
The year started out at about R19.36/l and climbed steadily until it broke the R20/l mark in March.
Russia's invasion of Ukraine saw a surge in oil prices around the world and led to the South African government announcing a temporary reduction in the general fuel levy from April 6.
“To mitigate the impact of escalating fuel prices, I hereby table the following proposal which will be included in the 2022 Rates and Monetary Amounts and Amendments of [the] Revenue Laws Bill for consideration by this house [National Assembly].
“A temporary reduction in the general fuel levy of R1.50/l from April 6 to May 31. This will reduce the levy for petrol from R3.85/l to R2.35. The levy on diesel will be reduced from R3.70/l to R2.20,” said finance minister Enoch Godongwana.
As the fuel price continued to surge, government announced in May it was extending the relief measures for another two months.
Despite the measures, the petrol price reached R26/l in July as the cost of living continued to wreak havoc.
Transport minister Fikile Mbalula also revealed government had scrapped a plan to add the cost of e-tolls to the fuel levy as the petrol price soared.
The temporary fuel levy reduction ended in August but oil prices meant there was still a drop in the cost of fuel to just under R25/l.
The price continued to drop before increasing slightly.
But new fears about the cost and supply of fuel in South Africa surfaced in October when experts warned of potential fuel-shedding due to a lack of strategic fuel reserves and refineries.
PETROL IN 2023
Are we in for a bumpy 2023?
With inflation likely to increase there will be increases in the petrol price next year, but there are steps you can take to reduce how much petrol you use.
Here are a few tips:
1. Plan your trip so you drive less.
2. Change your driving style. Don't speed between intersections or excessively rev your vehicle.
3. Ditch or limit the air conditioning.
4. Check your tyre pressure regularly
5. Get rid of extra weight, including roof racks and bicycle carriers.
TimesLIVE
Support independent journalism by subscribing to the Sunday Times. Just R20 for the first month.
The year petrol went through the roof, tips for 2023
Image: 123RF/Vladyslav Starozhylov
While much of South Africa was built on the back of gold, liquid gold ran much of 2022 through the fuel price.
Local fuel levies, coupled with the war in Ukraine, saw South Africans pay a record R26/l for unleaded 93 petrol this year.
The year started out at about R19.36/l and climbed steadily until it broke the R20/l mark in March.
Russia's invasion of Ukraine saw a surge in oil prices around the world and led to the South African government announcing a temporary reduction in the general fuel levy from April 6.
“To mitigate the impact of escalating fuel prices, I hereby table the following proposal which will be included in the 2022 Rates and Monetary Amounts and Amendments of [the] Revenue Laws Bill for consideration by this house [National Assembly].
“A temporary reduction in the general fuel levy of R1.50/l from April 6 to May 31. This will reduce the levy for petrol from R3.85/l to R2.35. The levy on diesel will be reduced from R3.70/l to R2.20,” said finance minister Enoch Godongwana.
As the fuel price continued to surge, government announced in May it was extending the relief measures for another two months.
Despite the measures, the petrol price reached R26/l in July as the cost of living continued to wreak havoc.
Transport minister Fikile Mbalula also revealed government had scrapped a plan to add the cost of e-tolls to the fuel levy as the petrol price soared.
The temporary fuel levy reduction ended in August but oil prices meant there was still a drop in the cost of fuel to just under R25/l.
The price continued to drop before increasing slightly.
But new fears about the cost and supply of fuel in South Africa surfaced in October when experts warned of potential fuel-shedding due to a lack of strategic fuel reserves and refineries.
PETROL IN 2023
Are we in for a bumpy 2023?
With inflation likely to increase there will be increases in the petrol price next year, but there are steps you can take to reduce how much petrol you use.
Here are a few tips:
1. Plan your trip so you drive less.
2. Change your driving style. Don't speed between intersections or excessively rev your vehicle.
3. Ditch or limit the air conditioning.
4. Check your tyre pressure regularly
5. Get rid of extra weight, including roof racks and bicycle carriers.
TimesLIVE
Support independent journalism by subscribing to the Sunday Times. Just R20 for the first month.
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