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Reasons why South Africa's increase in fuel prices is irrational.

Recently, there has been a sharp increase in fuel prices, and it looks to be having fun. The price increase of crude oil is thought to be the cause of the sudden surge in fuel prices. Oil prices heavily influence the price of fuel. The cost of crude oil makes up 60% of the cost of a gallon of standard gasoline, according to the Energy Information Administration. The Covid-19 epidemic and Russia's invasion of Ukraine are the main causes of the skyrocketing price of gasoline, but these factors were anticipated long before the invasion. 


The rapid rise in gasoline prices has a wide range of effects on consumers, as the cost of food, building supplies, and other essentials is likely to rise as a result of the sharp increase in transportation costs. In all of this, public transportation is not far behind. 


Despite being the world's greatest producer of crude oil and refined petroleum products, the United States also imports oil from other nations. As a result, it currently has the highest gasoline prices due to its sanctions against Russia, the world's second-largest producer of crude oil. 

Since South Africa and Russia have close relations and are both members of the BRICS, it is acceptable why fuel costs have progressively risen in the United States, but it is still illogical for prices to rise so quickly in South Africa. Since the relationship between the two nations has remained positive, Russia has no problems selling oil to South Africa at a competitive price. 


Due to the fact that our nation imitates everything the Americans do, fuel is sold to South African citizens at an absurd price while still being sold at a reasonable price to nations like Botswana, Namibia, Swaziland, and Lesotho. This is contrary to the fact that our country imports fuel at a reasonable price, which naturally should be sold to South Africans at a reasonable price.


Source:https://opr.news/s25ed60b1220709en_za?link=1&client=iosnews

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