Here's how much you'll save per tank of fuel in April
Johannesburg - Despite the 25 cent increase in fuel levies that came into effect at the beginning of April, South Africa still enjoyed one of the biggest fuel price decreases on record, with the price of 95 Unleaded dropping by R1.88 a litre and 93 Unleaded by R1.76 a litre, while 50ppm diesel fell by R1.35.
It is little consolation for the time being, given that until at least the 17th of the month, only essential trips are allowed under lockdown, but motorists will nonetheless experience some significant savings next time they fill up their tanks.
But how much exactly will you be saving on each tank?
We did the sums on 15 popular vehicle ranges currently on sale in South Africa (see tables below) and the amounts are fairly significant.
While those driving a smaller car such as the Volkswagen Polo will pay around R65 less per tank, those in bakkies and SUVs such as the Toyota Hilux and Fortuner are in for a saving in the region of R100.
Because it’s safe to assume that you’re not going to arrive at the fuel pump with a completely dry tank, we subtracted five litres off the tank capacity of each vehicle in the list. Thus if the Polo has a 40 litre tank capacity, our calculation was based on 35 litres. Unfortunately we were unable to calculate fill-up prices for diesel vehicles as diesel prices are deregulated, meaning they differ from forecourt to forecourt.
For the record, a litre of 95 now costs R13.26 at the coast and R13.96 inland, while 93 UPL is listed at R13.76.
As previously reported, April’s fuel price relief comes as a result of a crash in the oil market, largely due to the Covid-19 pandemic. Thankfully the fall in these prices has by far outweighed the weakness in the local currency.
Despite the rand having lost additional ground since the ratings downgrade this past weekend, trading at R18.46 to the US dollar at the time of writing, another major fuel price decrease is still looking likely for May, given that international oil prices were hovering around $25 a barrel.
Stay tuned to IOL around mid-month for May’s fuel price prediction.