This is my tweaked version. It avoids a lot of repetition.
from math import pi
print("Welcome to the volume and surface area cylinder calculator powered by Python!")
response = raw_input("To calculate the volume type in 'vol', to calculate the surface area, type in 'SA': ").lower()
while response not in ["vol", "sa"]:
print("Please enter a correct statement.")
response = raw_input("To calculate the volume type in 'vol', to calculate the surface area, type in 'SA': ").lower()
radius, height = [float(part) for part in raw_input("What is the radius and height of the cylinder? (e.g. 32, 15): ").split(',')]
r2 = radius ** 2
SA = 2 * pi * r2 + 2 + pi * radius * height
volume = pi * r2 * height
decimal_places = int(raw_input("How many decimal places do you want it to?: "))
if response=="vol":
print("The volume of the cylinder is {0:.{1}f}cm\u00b3".format(volume, decimal_places))
verify = raw_input("Do you want to find out the surface area (type in Yes or No): ")
if verify.lower() == "yes":
print("The surface area of the cylinder is {0:.{1}f}cm\u00b2".format(SA, decimal_places))
if response =="sa":
print("The surface area of the cylinder is {0:.{1}f}cm\u00b2".format(SA, decimal_places))
verify = raw_input("Do you want to find out the volume (type in Yes or No): ")
if verify.lower() == "yes":
print("The volume of the cylinder is {0:.{1}f}cm\u00b3".format(volume, decimal_places))