Motorists can brace for hefty fuel increases this week.
This as current unaudited fuel data from the Central Energy Fund (CEF) shows 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 South African motorists enjoyed over the past three months is over.
According to the data, 93ULP and 95ULP petrol are expected to climb by between 64 cents per litre and 66 cents per litre respectively, while diesel is expected to increase by around 63 cents per litre. Illuminating paraffin is expected to be 47 cents per litre more expensive in February than it is currently is.
The fuel increases will be implemented this Wednesday (7 February).
“The movement in international oil prices is contributing a significant percentage to the increases while the weaker average Rand to US Dollar exchange is adding an impactful but smaller margin to the expected increases,” the AA noted.
“The increases to the prices of petrol will have a negative impact on household budgets in this early part of the year, while most consumers are still recovering from festive-season spending and stretched budgets. The cumulative effect on personal finances will be a further reduction of disposable income, which will be exacerbated by increases to goods and services that must recoup the higher fuel input costs.
“We again urge consumers to monitor their fuel usage carefully, and to budget according to the new fuel prices, which come into effect on Wednesday. Ensuring vehicles are well-maintained and in good mechanical condition, carefully planning routes and avoiding heavy traffic, if possible, are some ways in which motorists can ensure better fuel consumption.”
