It is going to be another costly few months for South African Motorists.
Gwede Mantashe; Minister of Mineral Resources and Energy of South Africa accredits the increases to the threatening Russia-Ukraine conflict.
Not too long ago, the South African petrol price increased to the point of it tethering on the R20/litre mark, well brace yourselves because there is yet another fuel hike expected for South Africa in March and it’s looking more bleak than before.
It is going to be another costly few months for South African Motorists.
Unfortunately South Africans will have to fork out at least R1.24 more per litre for fuel in the coming months as a massive increase is expected to be announced by the government in the coming weeks. Diesel is expected to take the biggest increase with an anticipated R1.37 more per litre and if these predictions are accurate, South Africans living in the interior will be paying over R21/litre for diesel and petrol.
The data according to the latest Central Energy Fund data will be one of the biggest increases on record. While South Africa has a significantly high cost of fuel in comparison to neighbouring countries due to a high fuel levy and road accident fund, this latest increase is a result of international events that are unfolding before us.
Gwede Mantashe; Minister of Mineral Resources and Energy of South Africa accredits the increases to the threatening Russia-Ukraine conflict.
Gwede Mantashe, South Africa’s Mineral Resources and Energy minister has directly attributed the looming rise to the tensions between Russia and the Ukraine but current oil prices are more reflective of the Rand-Dollar exchange rate as well as attacks on fuel storage facilities in the United Arab Emirates and related conflict in Yemen which have already taken place.
A petition was recently put in place by the AA after the price of fuel increased just under R5/litre throughout 2021. The 30,000+ signatures so far plead with the government and Gwede Mantashe to review the high cost of the fuel levy and road accident fund that is built into our per-litre fuel price as further raises will have a cascading effect on the all South Africans but will worse affect the affordability of necessities for the impoverished. Nonetheless, it seems another fuel hike is expected.
Keyword: Another fuel hike expected for South Africa in March