27 cents a litre!? – These countries have fuel cheap enough to turn South Africans green with envy

The most recent decrease in the fuel price for January reportedly looks set to continue in February come the eighth of next month.

Fuel still cheap in South Africa

Citing a report by the Central Energy Fund, Engineering News reports a projected cut of seven and 14 cents per litre for 93 and 95 unleaded respectively, with diesel poised to drop by between 37 cents and 40 cents.

While a secondary report is set to be released towards the end of this month, the decrease, especially that of petrol, would see the price of fuel be in close range of dipping below R21 a litre with diesel on track to fall below R23 per litre.

ALSO READ: Fuel price figures confirmed by department a positive start to 2023

Although set to provide more reprieve for motorists, who endured a tough 2022 at the pumps, South Africa’s fuel price flip-flopping, at its peak of over R26-litre a litre for 95, still stands in contrast to Hong Kong that currently tops the list of country/territory with the highest fuel cost of fuel per litre.

Based on the newest survey by globalpetrolprice.com on each country’s relative fuel price, topping-up in South Africa is still cheaper than in Poland (R25.67), New Zealand (R28.28), the United Kingdom (R31.16), Germany (R32.13) and Sweden (R32.49).

Largely attributed to each country’s taxation on fuel, the top 10 regions with the cheapest and priciest fuel prices, converted directly to Rand, are as follows:

Top 10 countries with the cheapest petrol prices

1. Venezuela – R0.27
2. Libya – R0.53
3. Iran – R0.91
4. Angola – R5.41
5. Algeria – R5.75
6. Kuwait – R5.86
7. Egypt – R6.19
8. Turkmenistan – R7.31
9. Nigeria – R7.60
10. Kazakhstan – R7.77

Top 10 countries with the most expensive petrol prices

1. Hong Kong – R50.34
2. Iceland – R38.36
3. Norway – R37.79
4. Central African Republic – R36.55
5. Denmark – R36.49
6. Monaco – R36.41
7. Israel – R35.80
8. Syria – R34.82
9. Greece – R34.15
10. Finland – R33.98

Top 10 countries with the cheapest diesel prices

1. Iran – R0.18
2. Venezuela – R0.27
3. Libya – R0.53
4. Saudi Arabia – R3.40
5. Algeria – R3.63
6. Egypt – R4.17
7. Angola – R4.56
8. Kuwait – R6.42
9. Turkmenistan – R6.58
10. Ecuador – R7.88

Top 10 countries with the most expensive diesel prices

1. Hong Kong – R45.35
2. Central African Republic – R40.77
3. Sweden – R40.18
4. Iceland – R39.44
5. Monaco – R38.51
6. Norway – R37.89
7. Switzerland – R37.58
8. Finland – R37.37
9. Denmark – R35.99
10. United Kingdom – R35.95

Additional information from Engineering News.