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Fuel Price Increase Set to Hit South African Motorists this Week

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Fuel Price Increase Set To Hit South African Motorists This Week

From Wednesday, South African motorists are bracing for yet another blow as fuel prices are set to increase across the board. The Central Energy Fund (CEF) confirmed that both 93 and 95 octane petrol will see a spike of R1.21 per litre, while wholesale diesel prices are expected to rise by R1.06 for 0.05% sulphur and R1.19 for 0.005% sulphur variations. Additionally, illuminating paraffin will also see an increase of 64c per litre.

The upcoming price hike comes in the wake of previous increases in February and is primarily driven by a combination of a weaker rand against the U.S. dollar and a surge in international oil prices. Unfortunately, this translates to a heavier financial burden on consumers as they grapple with rising fuel expenses.

The Automobile Association has shed light on the situation, emphasizing that while the depreciation of the rand does play a part in the escalating fuel prices, the overall outlook appears grim for consumers. As the increase looms, it is clear that South African motorists will need to prepare for a dent in their wallets.

Despite the challenging fuel price outlook, there is a silver lining for consumers. The General Fuel Levy and the Road Accident Fund levy, two significant components of the fuel price, are expected to remain unchanged for the third consecutive year. This stability in the levies provides a slight reprieve for consumers amid the broader fuel price hikes.

Effective March 6, motorists in South Africa can anticipate the following fuel prices: In the inland regions, 93-unleaded petrol will cost R24.13 per litre, and 95-unleaded will be priced at R24.45. Wholesale diesel prices for both 0.05% and 0.005% sulphur variants will be R22.42 and R22.61 per litre, respectively. Along the coast, 95-unleaded petrol will be priced at R23.73, and wholesale diesel prices for the 0.05% and 0.005% sulphur options will be R21.70 and R21.91 per litre, respectively.

Rachel Adams

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