Another fuel price hike for SA

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15 February 2021

Mid-month estimates for the March petrol price paint a grim picture for the motorists of Mzansi: Fuel costs are set to rise for the third consecutive month of 2021, as the value of oil continues its rapid recovery following the initial coronavirus shock.

According to the Central Energy Fund, the petrol price is likely to rise by 55 cents per litre next month – taking the per-litre price in some regions past the R16 mark. Meanwhile, diesel costs are also set to balloon, increasing by 45 cents. Illuminating paraffin is also set to undergo a substantial increase of 40 cents per litre.

According to the AA, a sturdy Rand performance against the US Dollar is no match for the strength of the oil price recovery. International markets continue to surge, and with South Africa being heavily reliant on imports, our fuel consumers are at the mercy of global trends.

adapted from the southafrican

LT