After a month of the Central Energy Fund’s predictions bringing us down, it’s time for the Department of Energy (DoE) to officially dash our dreams with March’s petrol and diesel prices. If you’ve been blissfully unaware of the incoming price increases, we hope you enjoyed your ignorance while it lasted.
In fact, you should head out to your nearest petrol station and fill up as soon as you’re done reading this. Unless of course you aren’t phased by the increase or you don’t pay for your own fuel. In that case, carry on with your regular Tuesday.
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Going on a petrol hike
According to the DoE, the main reason for the increase is the ever-rising international price of petrol products, paired with the constantly depreciating US Dollar/Rand exchange needed to purchase it.
From 00:01 in the morning of Wednesday, 1 March, petroleum-based fuels will see the following increases:
- Petrol 95: increase of 127 cents per litre (R1.27)
- Petrol 93: increase of 127 cents per litre (R1.27)
- Diesel 0.05%: increase of 30 cents per litre (R0.30)
- Diesel 0.005%: increase of 31 cents per litre (R0.31)
- Illuminating Paraffin: increase of 17 cents per litre (R0.17)
Still, it’s not as bad as it could have been, especially for the diesel drivers out there. That’s because of our finance minister’s recent announcement that the National Treasury won’t be increasing the general fuel and Road Accident Fund levies this year. It’s a small victory and one that we should praise while we can.
We’re hopeful that by the time April rolls around, the country’s Rand is a little stronger than it is currently, resulting in some sort of relief. Even a 1c drop would be welcomed, we guess. We suggest you keep your expectations in check. Or forego them completely, that way you can’t be disappointed.
