read an interesting article recently indicating that the cost of petrol in South Africa has increased by 33% since 2012. The article makes the point that the international oil price is exactly as expensive now as it was in 2012.
The reason that South Africans are paying more for petrol has got nothing to do with the oil price. It is all about - according to the article - the increase in all of the taxes during that time, some of which of course is related to the R1,98 per litre that goes to the Road Accident Fund. A lot of the increase is related to the general taxes that the Government raises on petrol which stood at R1,97 a litre in 2012 and are now at R3,52 a litre. This is all despite what has happened with the Rand, which has also weakened during the time, because oil prices are actually lower now than they were in 2012, so despite the weakening of the Rand during that time South Africa pays less for a barrel of oil, in Rands, now than we did in October 2012!
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