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Sunday, July 14, 2024

Biggest fuel price hike in months this March

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The Department of Mineral Resources and Energy has announced the latest fuel price adjustments that will see motorists digging deeper into their pockets this month.

 

Both grades of petrol will increase by R1,21 per litre. Diesel will go up by between R1,06 to R1,19 per litre, while illuminating paraffin will see a price rise of 85 cents.

 

LP gas is set to increase by 41 cents per kilogram.

 

fuel price petrol
Image by Lizell Persens

 

Spokesperson Robert Maake says the uptick is due to higher than average oil prices, and a weaker rand against the US Dollar.

 

To put this into context, if you are living in a coastal city and using 95 unleaded petrol you are currently paying R22,52. From 6 March, you will essentially be paying R23,73.

 

On Friday, the Automobile Association said the upcoming increase will create even more financial woes for South Africans, as they scramble to absorb these expected increases.

 

The AA said there is, however, some positive news for consumers, considering the two main levies on fuel – the General Fuel Levy (GFL), and the Road Accident Fund levy (RAF) will not be increasing for the third year in a row.

 

“These levies are traditionally increased in February and implemented in April, but the Minister of Finance heeded calls by the AA and in his February Budget Speech indicated that this will not happen again this year. Although not a saving as such, any increases would have added additional pressure to fuel prices, and we again welcome his decision not to increase these rates for 2024,” concluded the AA.

 

READ MORE: Steep fuel price hike looming

Lizell Persens
Lizell Persens
Lizell is a Cape Town-based news anchor, reporter and transcriptionist. She has been a journalist for the past 10 years, and started her career as a TV producer. The avid reader enjoys writing poems, fast cars, music, travelling, and exploring new food.

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