Effective from Wednesday, Petrol prices will go up by over R1.40 cents, according to data released by the Central Energy Fund. South African consumers and businesses are warned that petrol prices could hit R25 a litre in the coming months, as financial markets have been recently hard-hit by the worsening crisis in Ukraine.
Both grades of petrol will increase by R1.46 per litre while diesel goes up between R1.44 per litre and one R1.48 per litre.
The Automobile Association of SA Spokesperson, Layton Beard, says fuel price increases will have an immediate impact on the masses as well as a long-term effect on inflation. The changes for March are as follows:
Petrol 95: increase of R1.46 per litre;
Petrol 93: increase of R1.46 per litre;
Diesel 0.05%: increase of R1.44 per litre;
Diesel 0.005%: increase of R1.48 per litre;
Illuminating Paraffin: increase R1.21 per litre.
“The impact certainly is dramatic and salaries and wages have not been keeping pace with the increase. This massive increase is going to put more strain on other things as well. E-tolls are getting expensive, electricity, and everything in general. The fact is that there are many millions of South Africans who are already struggling financially and this is going to be an extra burden on them.”