Current unaudited fuel data from the
Central Energy Fund (CEF) is showing significant increases for all grades of fuel
in February. Commenting on the data, the Automobile Association (AA) says the
numbers are indicating that the short-lived relief South African motorists
enjoyed in the past three months is over.
According to the data, 93ULP
and 95ULP petrol are expected to climb by between 64ccents a litre and 66c/l
respectively, while diesel is expected to increase by around 63c/l. Illuminating
paraffin is expected to be 47c/l more expensive in February than it is now.
“The movement in
international oil prices is contributing a significant percentage to the
increases while the weaker average Rand to US Dollar exchange is adding an
impactful but smaller margin to the expected increases,” notes the AA.
Based on these numbers, a
litre of 95ULP inland will climb from its current level of R22.49l/ to R23.15/l,
while the price of 93ULP inland will increase from R22.17/l to R22.81/l.
“The increases to the prices
of petrol will have a negative impact on household budgets at this early part
of the year while most consumers are still recovering from festive season
spending and stretched budgets. The cumulative effect on personal finances will
be a further reduction of disposable income which will be exacerbated by
increases to goods and services which must recoup the higher fuel input costs.
“We again urge consumers to
monitor their fuel usage carefully, and to budget according to the new fuel
prices which come into effect next Wednesday. 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,” the AA concludes.
