Petrol and diesel prices to rocket on Wednesday
Unaudited fuel data from the Central Energy Fund is showing significant increases for all grades of fuel in February.
Commenting on the data, the Automobile Association (AA) said the numbers indicate that the short-lived relief that SA motorists enjoyed in the past three months is over.
According to the data, 93 ULP and 95 ULP petrol grades are expected to climb by between 64c/l and 66c/l respectively, while diesel is expected to increase by about 63c/l.
Illuminating paraffin is expected to be 47c/l more expensive in February.
“The movement in international oil prices is contributing a significant percentage to the increases, while the weaker average rand to dollar exchange is adding an impactful but smaller margin to the expected increases,” said the AA.
Based on these numbers, a litre of 95 ULP inland will climb from R22.49 to R23.15 and 93 ULP inland will increase from R22.17/l to R22.81/l.
The AA said: “The increases to the prices of petrol will have a negative impact on household budgets at this early part of the year while most consumers are recovering from festive-season spending and stretched budgets.
“The cumulative effect on personal finances will be a further reduction of disposable income exacerbated by increases to goods and services which must recoup the higher fuel input costs.
“We again urge consumers to monitor their fuel use carefully, and to budget according to the new fuel prices. Ensuring vehicles are well maintained and in good mechanical condition, carefully planning routes and avoiding heavy traffic, if possible, are some ways motorists can ensure better fuel consumption.”