BL Premium reports that the relief of SA motorists at the government not raising fuel taxes has been short-lived. Fuel prices will hit record highs in March, with petrol to cost more than R21 a litre for the first time.
On Wednesday, both grades of petrol will rise by R1.46, with 95 unleaded to cost R21.60 and 93 unleaded R21.35 a litre in Gauteng, the department of mineral resources & energy announced at the weekend. At the coast, 95 unleaded will rise to R20.88/l. The wholesale price of diesel will get a hefty hike of R1.44 for 500 ppm sulphur and R1.48 for 50 ppm sulphur this week and will now cost R19.49 and R19.55, respectively. These are also record prices for diesel. Illuminating paraffin will rise R1.21 to R13.19/l compared with R8.45 a year ago. Mineral resources & energy minister Gwede Mantashe cited increased international fuel prices as the main reason for the hikes, with the crude oil price increasing from $93 to $96.47 a barrel during the period under review. In his recent budget speech Finance Minister Enoch Godongwana said he and Mantashe had agreed to review all aspects of the fuel price, a decision that was welcomed by the AA, which has been lobbying for such a move.
- Read the full original of the report in the above regard by Denis Droppa at BusinessLive (subscriber access only)
- Read too, As SA fuel prices hit record highs, AA warns of further pain due to Ukraine invasion, at Fin24
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