The Automobile Association of South Africa (AA) has warned that significant increases in petrol prices are likely in March. Unaudited fuel data from the Central Energy Fund (CEF) suggests that 93 ULP and 95 ULP petrol will climb by between R1.22/litre and R1.27/l, diesel is expected to increase by around 28cents a litre and illuminating paraffin is expected to be 16c/l more expensive in the new month.
The AA notes that the increases in petrol prices are primarily due to the movement in international oil prices and the weaker average Rand to US Dollar exchange rate. This means that a litre of 95ULP inland will climb from R21.68/l to R22.90/l, while the price at the coast will increase from around R21.03/l to R22.25/l.
The AA warns that the increases in the price of petrol will have a negative impact on household budgets. A 50/l tank of fuel, for instance, will now cost R61 more to fill, or R244 if filled four times during the month. Furthermore, the increases will lead to further reductions in disposable incomes due to the higher fuel input costs being passed on through increases in goods and services.
The AA urges consumers to carefully monitor their fuel usage and budget according to the new fuel prices. Ensuring vehicles are well maintained and in good mechanical condition, carefully planning routes, and avoiding heavy traffic, if possible, are some ways in which motorists can ensure better fuel consumption.
Tags: AA Automobile Association Diesel Petrol