Cooking truck hijack

Some of the 2l Sunfoil cooking oil stolen in Kempton Park has been recovered. Image: Adobe Stock

COST CRISIS: Cooking oil price skyrockets as petrol decreases

Life in SA is getting more expensive due to high fuel prices and inflation. In July 2022, the cooking oil price increased by nearly R2 from June 2022.

Cooking truck hijack

Some of the 2l Sunfoil cooking oil stolen in Kempton Park has been recovered. Image: Adobe Stock

In July 2022, the cooking oil price rose to R230,44, nearly a R100 more than it cost during the same period last year (July 2021), when it cost R140,52 for 5 litres, according to the July 2022 Household Affordability Index.

The index is released monthly by the Pietermaritzburg Economic Justice & Dignity Group, which was founded in 2018, “in response to the unjust and unequal political economy of South Africa”.

Fast facts: History of cooking oil price

  • 5 litres of cooking oil cost R228,94 in South Africa in June 2022
  • Certain vegetable cooking oil (except olive oil) is zero-rated, meaning its exempt from value-added tax (VAT)
  • Cooking oil price is the lowest in Cape Town at R222,31
  • Cooking oil cost R229,41 in Durban in July 2022
  • Gauteng had the highest cooking oil price in July 2022 – R239,82
Pietermaritzburg Economic Justice & Dignity Group’s Mervyn Abrahams discusses the impact of food inflation with Newzroom Afrika’s Thabo Mdluli.

Inflation increases hit cooking oil price

South Africa’s inflation came in at 7.4% in June. This is the highest reading since since May 2009 (8%), during the global financial crisis.

“Statistics South Africa figures showed fuel and food prices, which have soared globally due to the war in Ukraine, continue to be the major drivers of price pressures,” Reuters reported last month.

What is the latest fuel price?

Amid the high cooking oil price, South Africans received some relief at the petrol pumps on Wednesday 3 August, with a huge fuel price drop, driven by decreases in international fuel prices.

FuelPrice change
Petrol 95Decrease of 132 cents per litre
Petrol 93Decrease of 132 cents per litre
Diesel 0.05%Decrease of 88 cents per litre
Diesel 0.005%Decrease of 91 cents per litre
Illuminating Paraffin (wholesale)Decrease of 144 cents per litre
95 PetrolR26.74R25.42
93 PetrolR26.31R24.99
0.05% diesel (wholesale)R25.40R24.52
0.005% diesel (wholesale)R25.53R24.62
Illuminating ParaffinR19.86R18.42

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CoastalJuly August
95 PetrolR26.09R24.77
93 PetrolR25.66R24.34
0.05% diesel (wholesale)R24.75R23.87
0.005% diesel (wholesale)R24.89R23.98
Illuminating ParaffinR19.07R17.63

However, the reprieve on the general fuel levy came to an end on 2 August.

“The levy will amount to 394 cents per litre for petrol and 380 cents litre for diesel,” said the Department of Minerals and Energy in a statement last week.

It remains to be seen how this will affect the cooking oil price for August 2022.

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