While petrol customers were hit with a steep increase, diesel bills will be a total shock to the system.
Image: AI / ChatGPT
After a frantic day of queuing for fuel, South Africans woke up to a post-apocalyptic world of high fuel prices on April 1, as spiralling oil prices caused by the war in the Middle East took effect.
Although the government has softened the blow with a temporary R3 tax reprieve that may even extend into May, the fuel price increases will still hit hard. Both grades of petrol have gone up by R3.06, with 95 Unleaded now costing R22.53 at the coast and R23.36 in the inland regions, where 93 Unleaded retails for R23.25.
But diesel customers will face the biggest sting, with 500ppm now rising by R7.37 and 50ppm by R7.51. This means the wholesale price of the latter rises to R25.35 at the coast and R26.11 in Gauteng. This excludes the wholesale and retail margins, which typically add around R2 to R3 to this unregulated fuel.
How much more you'll pay for a tank of petrol in April.
Image: AI / ChatGPT
Even a modest refuel in a compact petrol-powered hatchback will make a significant dent in your monthly budget from this month, with a 30-litre refuel now costing R675.90 at the coast, which is a R92 increase over March. A 40-litre refuel will cost you R122 more, and be prepared to spend R153 extra for 50 litres and R184 for 60 litres.
But that’s nothing compared to a 60-litre refuel in a typical one-tonne bakkie, which will cost an eye-watering R451 more than it did in March.
A typical bakkie that consumes 9.0 litres of diesel per 100km will cost you R676 more to run if you travel 1,000km per month, and a whopping R1,352 extra if you cover 2,000km.
Consider that the average South African drives between 1,500km and 2,000km per month, and it becomes clear that many bakkie drivers will see their monthly fuel bill swell by over R1,000!
If you drive a small hatchback that consumes around 5.5 litres per 100km, the fuel price blow will be somewhat softer, with the cost rising by R168 per month if you drive 1,000km, or by R336 if you cover 2,000km.
A medium SUV that consumes 8.0 l/100km will see your costs rise by R244 for 1,000km and R490 for 2,000km.
Estimated monthly costs per kilometre for South African drivers at the coast.
Image: Jason Woosey / IOL
Estimated monthly costs per kilometre for South African drivers in Gauteng.
Image: Jason Woosey / IOL
Disclaimer: The tables above are intended as a rough guideline outlining your additional monthly expenses in a variety of vehicles and mileage scenarios. If you don't drive one of these models, read your vehicle’s on-board fuel-use readout and match it to the closest consumption factor on the chart.
Also keep in mind that the fuel use figures listed above are real-world estimates, with a 1.5 l/100km margin added to the manufacturer's official claimed figures. The diesel price calculation is an estimate based on the official wholesale price, but with a retail margin of R2.50 added.
April’s fuel price increases come as a direct result of rand weakness and significantly higher international oil prices caused by the war in the Middle East and fears over Iran-controlled Strait of Hormuz, which is a critical choke point for around 20% of the world’s fuel.
At the time of writing in early April, international oil prices remained elevated, with Brent Crude trading at $102 per barrel around mid-week.
If oil remains at this level, there is no hope of any fuel price relief in May, given that April’s fuel prices are based on a Brent Crude average of $94 for the most recent review period. That calculation was also based on a rand value of R16.64 to the US dollar. This week, the local currency was trading around the R16.83 mark.
There is a glimmer of hope, however, with US President Donald Trump this week claiming that the war could be over in up to three weeks and his Iranian counterpart saying Tehran had the “necessary will” to bring it to an end.
But until international oil prices subside below the $90 mark, there is no fuel price relief in sight. The only silver lining is that South Africa’s government has indicated that the temporary tax reprieve could extend into May if deemed necessary.
IOL Motoring