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Cape Town - The average South African wage earner spends 6.5% of their daily earnings on a litre of petrol, according to data from Direct Axis.
On July 3, petrol prices increased to R13.23/litre in Gauteng and R12.86/litre at the coast, while both grades of diesel increased by 78.20c/litre.
Assuming a motorist earns the average daily wage of R203, he will spend R900 monthly to fill up a 30/l tank twice for the month - this equates to 17% of his monthly salary.
According to an infographic released by Direct Axis, the petrol price is made up from a 53.1% basic fuel and state levy, 19% distribution and retail margin and 27.9% in tax - fuel levy, Road Accident Fund levy and Customs and Excise.
Based on the fuel levy and RAF tax increase of 2% announced in Finance Minister Pravin Gordhan's National Budget in February and the July 3 petrol price, South African motorists are paying R3.69 in tax on every litre of 95 Octane (Gauteng prices).
If you fill up a 60 litre tank, R221.47 will go towards government taxes.
Earlier this week Deputy Finance Minister Nhlanhla Nene hinted that the government may be raising taxes because of "revenue coming in below expectations".
This expectation coupled with the expected 61c a litre increase in the petrol price on August 7 is going to have a devastating impact on consumers, according to Debt Rescue CEO Neil Roets.
He said for the majority of South Africans who are barely managing to make ends meet this double blow is going to be the straw that breaks the camel's back.
"While the increase in the price of fuel is going to hit everybody, the tax increase is going to hit the emerging middle class especially hard.
"Many of them have clawed their way out of poverty by working hard and counting their pennies.
"To now be faced by the threat of higher taxes as well as an all-time high fuel price is going to push large numbers of them back into poverty."
Meanwhile, the current petrol price has earned South Africa the 40th spot among the 60 most expensive countries in the world for petrol.
Petrol is the cheapest in Venezuela at 11c a litre, and the most expensive in Turkey at R26.97 a litre.
Tips to save on petrol include:
* Lighten your load
* Avoid excess idling
* Service your car regularly
* Switch off the aircon
* Check your tyre pressure
- Fin24
On July 3, petrol prices increased to R13.23/litre in Gauteng and R12.86/litre at the coast, while both grades of diesel increased by 78.20c/litre.
Assuming a motorist earns the average daily wage of R203, he will spend R900 monthly to fill up a 30/l tank twice for the month - this equates to 17% of his monthly salary.
According to an infographic released by Direct Axis, the petrol price is made up from a 53.1% basic fuel and state levy, 19% distribution and retail margin and 27.9% in tax - fuel levy, Road Accident Fund levy and Customs and Excise.
Based on the fuel levy and RAF tax increase of 2% announced in Finance Minister Pravin Gordhan's National Budget in February and the July 3 petrol price, South African motorists are paying R3.69 in tax on every litre of 95 Octane (Gauteng prices).
If you fill up a 60 litre tank, R221.47 will go towards government taxes.
Earlier this week Deputy Finance Minister Nhlanhla Nene hinted that the government may be raising taxes because of "revenue coming in below expectations".
This expectation coupled with the expected 61c a litre increase in the petrol price on August 7 is going to have a devastating impact on consumers, according to Debt Rescue CEO Neil Roets.
He said for the majority of South Africans who are barely managing to make ends meet this double blow is going to be the straw that breaks the camel's back.
"While the increase in the price of fuel is going to hit everybody, the tax increase is going to hit the emerging middle class especially hard.
"Many of them have clawed their way out of poverty by working hard and counting their pennies.
"To now be faced by the threat of higher taxes as well as an all-time high fuel price is going to push large numbers of them back into poverty."
Meanwhile, the current petrol price has earned South Africa the 40th spot among the 60 most expensive countries in the world for petrol.
Petrol is the cheapest in Venezuela at 11c a litre, and the most expensive in Turkey at R26.97 a litre.
Tips to save on petrol include:
* Lighten your load
* Avoid excess idling
* Service your car regularly
* Switch off the aircon
* Check your tyre pressure
- Fin24
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