February Petrol Price Hike
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Eleanor Mavimbela – AA SPokesperson talks about In the middle of January, South Africans had something to cheer about, despite dealing with load shedding and an interest rate hike, as mid-month data pointed to a decrease in fuel prices.
Things changed quickly towards the end of the month as the Department of Mineral Resources and Energy sent shockwaves across the country.
The increase, which kicked in today, February 1, is a complete reversal of conditions at the start of the year and even the middle of the month, when a petrol and diesel price cut was still on the cards.
Motorists will now have to fork out an additional 28 cents per litre for both 95 and 93 octane petrol, while diesel will be hiked by between less than a cent and around 9c a litre.
The latest price hikes will push the price of petrol in Gauteng to R21.68 a litre, from R20.14 a year ago.
The main driver behind the higher local prices is the rising cost of international petroleum product prices, pushed higher by a stronger global oil price.
The latest fuel price increase, which comes in the wake of a series of steep rate hikes announced by Reserve Bank Governor Lesetja Kganyago and the unsettling news of a massive 18.65% increase in electricity tariffs that will kick in in April, extinguishes the last flame of hope of a better year for South Africans.
According to the AA, the increase will put an even bigger burden on consumers who are already under strain owing to the rising cost of living in South Africa.
Things changed quickly towards the end of the month as the Department of Mineral Resources and Energy sent shockwaves across the country.
The increase, which kicked in today, February 1, is a complete reversal of conditions at the start of the year and even the middle of the month, when a petrol and diesel price cut was still on the cards.
Motorists will now have to fork out an additional 28 cents per litre for both 95 and 93 octane petrol, while diesel will be hiked by between less than a cent and around 9c a litre.
The latest price hikes will push the price of petrol in Gauteng to R21.68 a litre, from R20.14 a year ago.
The main driver behind the higher local prices is the rising cost of international petroleum product prices, pushed higher by a stronger global oil price.
The latest fuel price increase, which comes in the wake of a series of steep rate hikes announced by Reserve Bank Governor Lesetja Kganyago and the unsettling news of a massive 18.65% increase in electricity tariffs that will kick in in April, extinguishes the last flame of hope of a better year for South Africans.
According to the AA, the increase will put an even bigger burden on consumers who are already under strain owing to the rising cost of living in South Africa.
