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Tuesday, February 27, 2024

Fuel prices to increase yet again

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The Automobile Association says diesel prices will increase for the fourth consecutive month when fuel prices for October are officially adjusted next Wednesday.

 

Commenting on unaudited fuel data from the Central Energy Fund (CEF), the AA says petrol and illuminating paraffin prices will also increase – both for the third consecutive month.

 

According to the current data, diesel is expected to increase by around R1.60/litre, while petrol is expected to increase by between 75c/l and 80c/l depending on the grade. Illuminating paraffin is expected to rise by more R1.50/l.

 

As was the case with the previous increases, these latest significant adjustments are mainly attributable to rising international oil prices. The weaker Rand/US Dollar exchange rate is also playing a role, but its contribution is less substantial than the international product prices for oil.

 

RELATED: BRACE for more fuel price pain in October

 

Based on the current numbers, ULP95 petrol in Gauteng will rise above R25/l and at the coast above R24/l for the first time since August last year.

 

The AA says these increases are going to hit all consumers hard, and at a time when most South Africans are already under extreme financial pressure.

 

It remains concerning, however, that in the face of these increases, government remains silent on its plans, if there are any, on a way forward to deal more effectively with fuel price increases.

 

The AA has advised motorists to keep their vehicles are good mechanical condition, and their tyres inflated to manufacturer’s specifications to ensure optimal fuel usage.

 

Minimising trips where possible, using air conditioners sparingly, and not overloading the vehicle are other measures owners can take to decrease fuel consumption.

 

“As the end of the year approaches many people will be making plans for their annual vacations. Part of that planning must include budgeting properly for fuel expenses now and including some extra finds to offset possible additional increases that may occur in November and December.”

Liesl Smit
Liesl Smit
Liesl is the Smile 90.4FM News Manager. She has been at Smile since 2016, with nearly 20 years experience in the radio industry, including reading news, field reporting and producing. In 2008 she won the Vodacom Journalist of the Year Award, Western Cape region. liesl@smile904.fm

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