It has become a South African pastime to wait in a queue at a petrol station on the first Tuesday evening of every month, getting in before the latest fuel price adjustments come into effect.
Like me, you may have sat in line at the pumps and asked yourself: Is this effort really worth the reward – saving a few cents per litre?
These small amounts add up over the course of a year, but whether the money you save is worth it will ultimately be an individual choice.
To see how much money you save by filling up your vehicle before fuel price hikes kick in, we used the example of Toyota Hilux owner – as it is the top-selling vehicle from the country’s best-selling brand.
The Toyota Hilux 2.4GD-6 Raider has an 80-litre fuel tank, and a 2.4-litre, turbo-diesel motor.
Assuming you are filling the tank from completely empty to completely full with diesel 50ppm at inland wholesale prices, you will have saved 21 cents per litre by refilling before this month’s price hike.
This amounts to a total savings of R16.80 for the full tank.
All fuel types
When compared to the fuel prices in June 2020, the June 2021 price for diesel 50ppm is R3.31 more expensive.
This is not the result of constant increases, however, as fuel prices did not go up every month.
Prices fluctuate up and down over the year, and this makes working out the savings you receive by filling up the night before a fuel price hike a bit trickier. This is the case for both petrol and diesel.
To see how much you would have saved if you refilled an 80-litre fuel tank with the four major fuel types in South Africa over the last 12 months, before a fuel price adjustment, we have produced the calculation below.
As no one would refill their tank if prices are going down the next day, we only selected the months where fuel prices increased.
Here are the results.
|Fuel Type||Savings over 12 months|
The graph below provides a good picture of how fuel prices have increased from 03 June 2020 to 02 June 2021.
Click on the graph to enlarge it.