Barring some sort of 11th-hour intervention from the government, the petrol price and other fuel costs – including diesel – could rise by as much as R4-per-litre this week, as the cost of living crisis continues to intensify. Cyril Ramaphosa and his comrades, therefore, have a big decision to make.
The ANC is being bombarded with requests to help ease the impending hammer blow of such a steep rise. However, Cabinet has so far failed to break its silence on the matter. Two months ago, Finance Minister Enoch Godongwana announced that the General Fuel Levy would be cut.
We’re screwed, aren’t we? June petrol price will hurt millions
That took R1.50-per-litre off each grade of fuel – but we still endured a crushing increase at the pumps for May, and with this tax suspension officially ending today, it means that our petrol price for June is likely to reach sky-high levels.
Most petrol consumers will have to bite the bullet and pay over R25-per-litre to fill their tanks up, and it’s even worse for diesel users, who could be paying R26-per-litre within the next few days.
When Cyril Ramaphosa began his presidency more than four years ago, we doubt he was anticipating a crisis like this. Immediately after the threat of COVID-19 subsided globally, Russia’s invasion of Ukraine worsened existing supply chain problems.
How the petrol price has increased since Ramaphosa took charge
We’ve been left with a toxic mix of inflation, product supply issues, and global conflict. That has sent the value of fuel rocketing, and it gives Ramaphosa the mother of all headaches. During his inauguration in February 2018, you could get a litre of petrol for under R13.50
Diesel was fairly cheap, at little over R12-per-litre. These figures look like a fantasy right now, though. By time the June petrol price increment comes into force, those who run their vehicles on diesel will have seen their fuel costs DOUBLE during Ramaphosa’s time in charge.
You can view how things have changed – for the worse – right here:
|Date||Petrol price for February 2018||Petrol price for May 2022||Estimated petrol price for June 2022|
|Petrol 93 (COASTAL)||R13.49||R20.86||R24.66|
|Petrol 95 (COASTAL)||R13.63||R21.09||R25.09|
|Diesel wholesale (COASTAL)||R12.17||R21.37||R25.37|
|Petrol 93 (INLAND)||R13.90||R21.51||R25.51|
|Petrol 95 (INLAND)||R14.12||R21.84||R25.84|
|Diesel wholesale (INLAND)||R12.57||R21.99||R25.99|