Industry NewsBy: Alex Shahini In the latest graphic provided by The Outlier, the cost of fuel for various vehicles shows the variance from 4 years ago to now with a Toyota Hilux requiring R469 more to fill up, representing a 35% increase.
With burgeoning prices of fuel and an ever-weakening rand, it seems as though cash-strapped consumers are always warned about pending increases each month. Data journalist The Outlier has included two graphics showing the stark increases in prices in only a 4 year period. Crediting the transport department on figures for 95 Octane and manufacturer magazines, 6 vehicle segments are represented including a Toyota Hilux which now costs R1 810 to fill its 80-litre hold as opposed to R1 341 from 2019.
Have a look at the post above to see costs of a litre of fuel now versus four years ago.
Also included is a Porsche Cayenne, which needs R1 924 to fill its sizable 85-litre tank in June this year while the same month four years ago only required an outlay of R1 425. The trend is obvious and applies to even the most frugal cars like the Suzuki Swift which now requires R837 to fill its 37-litre tank, this is an increase of R217 in the period which represents an increase of 35%.
At its cheapest in this period, the Swift could have an empty tank brimmed for R452 in the midst of the Covid-19 pandemic – May 2020. Thereafter the price of fuel went on an almost non-stop increase until mid-2022 when consumers were met with some reprieve.
The international price of fuels has increased but not to the extent experienced in South Africa. Brent crude, which is primarily refined into diesel and gasoline fuel is the largest factor in the retail price South Africans pay for at the pumps. The cost of this commodity in June of 2019 was $59,90 while it is now $73,87. This represents a 23% increase, a significantly lower value than the increase for the end product at the pumps in South Africa.
Some of this can be partially attributed to the weakening rand to the dollar, which is what Brent crude is traded in while some other contributing factors include added taxes and levies. Here is how much fuel costs in SA before taxes are added.
Keyword: A Toyota Hilux was R469 cheaper to fill up only 4 years ago