From today, motorists will be paying R1 more for a litre of 95 Octane fuel and 93 Octane is up by 95 cents per litre. This has pushed the petrol price to a record high of about R17 per litre.
Diesel is up by between 63 and 65 cents per litre, while the price of illuminating paraffin increased by 34 cents, pushing it up to R8.80 cents.
There’s also the 27 cents for the fuel levies, which came into effect this month.
Spokesperson for the Automobile Association, Layton Beard, is concerned the levies are putting more strain on cash-strapped South Africans.
“We’ve always argued there are ways to mitigate the need for those levies and it comes down to the economy and how stable the economy is and that relates to ratings agencies and how free of corruption your economy is. So at some point, you may reach a tipping point where those levies may just be unsustainable to very many people,” he says.
The Department of Energy announced the record high fuel increase hike last week.
Discussion on the impact of fuel hikes: