There’s bad news for motorists as we head into the new month, with fuel prices looking set to spike.
The AA said that current unaudited fuel data from the Central Energy Fund showed that significant increases were likely in March.
The price of petrol is expected to climb by between R1.22 and R1.27 a litre, and diesel by around 28 cents.
The AA said that movement in international oil prices, coupled with a weakened exchange rate, were to blame.
Based on the anticipated increases, motorists will be paying between R22.25 and R22.90 for a litre of 95 unleaded petrol from next month, depending on whether they’re purchasing it on the coast or inland.
This is a significant jump from what they’re currently paying, which is between R21.03 to R21.68
The AA said that not only did this mean that motorists would be forking out more at the pumps, it was also set to see the costs of goods and services increase.
It urged consumers to “monitor their fuel usage carefully, and to budget according to the new fuel prices” which come into effect next Wednesday.
EWN
