South Africans have been hit with one of the sharpest fuel price spikes in years. The price of petrol is up by more than R3 a litre on Wednesday and diesel by over R6. A temporary R3.00 levy cut softens the blow, but only slightly. For many households, the question is no longer if they’ll feel the impact, but how they’ll survive another squeeze as higher fuel costs ripple through the entire cost of living.
“Transport costs affect everything: commuting, food prices, logistics, and the cost of living overall. In moments like this, every rand saved matters. This is where our UCount Rewards programme continues to stand out as a reliable buffer for consumers,” says Fayelizabeth Foster, the Head of Loyalty and Rewards at Standard Bank.
UCount members can earn up to R10 back in Rewards Points per litre of fuel and oil purchased at Astron Energy and Caltex service stations, depending on their Tier Level and the card used to pay.
“When fuel prices surged in 2022, we doubled UCount’s fuel rewards to help our customers absorb the shock and the impact of that decision proved invaluable. We intend to play that same stabilising role now, as many households and businesses continue to feel financially stretched,” adds Foster.
Currently, UCount members spend an average approximately R2 000 on fuel per month, a 28.5% increase from their average monthly spend in 2021, when inland petrol averaged R17.50 per litre. As fuel prices have risen again, so too has the tangible value of UCount’s Rewards.
What the new fuel prices mean on consumers’ pockets
Using the upcoming increases of R3.27 for petrol and R6.19 per litre for diesel. here is the additional amount consumers will pay on a 50‑litre fill‑up:
- Additional cost for 50 litres of petrol: R163.50
- Additional cost for 50 litres of all diesel grades: R309
This increase is over and above the April fuel price increases which saw petrol users of pay an additional R153 for 50 litres of petrol, R363.50 more for 50 litres of 0.05% (wholesale) diesel and an extra R375.50 for 50 litres of 0.005% (wholesale) diesel.
Using the highest possible reward of R10 back per litre, UCount Rewards members can earn R500 back in Rewards Points on a 50‑litre fill‑up. This means that UCount members can fully offset the entire extra cost of fuel price increases when they earn the maximum reward per litre. Even for customers who earn half the maximum reward (R5 back per litre), petrol buyers would still fully offset the increase with their rewards while diesel will recover R250, significantly easing the impact of the increase.
“With fuel prices entering new territory, UCount Rewards gives customers a meaningful way to claw back some of what the economy takes,” says Foster. “It’s more than a loyalty programme, it’s a deliberate part of Standard Bank’s money‑management ecosystem, helping consumers cope with everyday expenses. Our fuel rewards remain the benchmark in South African banking: unmatched and designed to genuinely reduce the financial pressure of rising fuel costs.”
Bang Shift
National Budget: According to the 2017 Open Budget Index, South Africa was ranked joint first with New Zealand for having the most transparent budget in the world, with both countries scoring 89 out of a possible 100 points. The United States and Brazil are tied 7th with 77 points, while China is near the bottom of the list with 13 points. This level of transparency provides a positive business environment for investors and will attract either local or Foreign Direct Investment into the country to invest in new ventures.