Up to R204.50 of the R556.50 cents it will cost you to fill your 50-litre fuel tank at the coast before hitting the long road this Easter weekend will go to government coffers as special levies.
Without these special taxes, you would pay only R352 for the actual cost of the fuel you pump into your car – made up of the basic landed cost, freight and cargo costs, storage, financing and insurance, distribution and profit margins.
Because of fluctuations in the exchange rate and the global petroleum price, the basic fuel price can change on a month-to-month basis. There is also a differential in the pump price of petrol depending on whether you fill up at the coast or inland, with hinterland petrol stations having additional transportation and related costs. Depending on these factors, the basic fuel price might increase further in April.
And after the Easter holiday, the price of fuel will increase again on April 1, courtesy of the 30c/l hike in the fuel level announced by Finance Minister Pravin Gordhan in his budget last month.
Currently, the fuel levy totals R2.55 a litre, rising to R2.85 a litre next month. On a 50-litre fuel tank, the levy totals R127.50.
The money collected through the fuel levy is administered by the National Treasury and is treated as a general tax and not for road-related expenses, says the Automobile Association
Another R1.54 a litre goes to the Road Accident Fund levy for victims of road accidents.
In total, the RAF collects R77 from the costs of a full tank of petrol at your local fuel stop. — rayh@dispatch.co.za
Burden of fuel tax to rise
Without these special taxes, you would pay only R352 for the actual cost of the fuel you pump into your car – made up of the basic landed cost, freight and cargo costs, storage, financing and insurance, distribution and profit margins.
Because of fluctuations in the exchange rate and the global petroleum price, the basic fuel price can change on a month-to-month basis. There is also a differential in the pump price of petrol depending on whether you fill up at the coast or inland, with hinterland petrol stations having additional transportation and related costs. Depending on these factors, the basic fuel price might increase further in April.
And after the Easter holiday, the price of fuel will increase again on April 1, courtesy of the 30c/l hike in the fuel level announced by Finance Minister Pravin Gordhan in his budget last month.
Currently, the fuel levy totals R2.55 a litre, rising to R2.85 a litre next month. On a 50-litre fuel tank, the levy totals R127.50.
The money collected through the fuel levy is administered by the National Treasury and is treated as a general tax and not for road-related expenses, says the Automobile Association
Another R1.54 a litre goes to the Road Accident Fund levy for victims of road accidents.
In total, the RAF collects R77 from the costs of a full tank of petrol at your local fuel stop. — rayh@dispatch.co.za
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