Fuel price increase comes into effect from today. Images: Stock/Canva
Fuel price INCREASE comes into effect from TODAY
Fuel prices will be increased from today. Here is everything you need to know about the latest confirmed prices.
Fuel price increase comes into effect from today. Images: Stock/Canva
The increase in fuel prices comes into effect from today. Have you filled up your tank?
FUEL PRICE INCREASE FOR MARCH COMES INTO EFFECT TODAY
The Department of Mineral Resources and Energy published the latest official fuel price adjustments earlier this week.
Unleaded petrol of both grades (93 and 95) will rise by R1.21 a litre, bringing the Gauteng price of 95 unleaded petrol to R24.45 a litre, while the coastal price will reach R23.73.
Diesel (0.05% sulphur) will increase by R1.05 a litre, while 0.005% sulphur will increase by R1.18 a litre. This leaves the Gauteng wholesale price at R22.41, with the coastal price rising to R21.69.
The wholesale price of illuminating paraffin will be hiked by 64c a litre, and the maximum retail price for LP gas is going up by 41c per kg.
‘THE OVERALL PICTURE LOOKS BLEAK AND CONSUMERS WILL FEEL THE PINCH’
“The main driver behind the increases is higher international product prices in addition to the higher average rand/US dollar exchange rate. While the weaker rand is contributing a small margin to the under-recovery and increase to prices expected next month, the overall picture looks bleak, and consumers will feel the pinch,”
said the AA.
THE OFFICIAL ADJUSTMENT COMES INTO EFFECT ON 6 MARCH
Senior trader Dennis Kissler of BOK Financial has told Reuters that tighter oil supplies would be a reality.
Kissler said OPEC is looking for mid-$80s, maybe around $85 a barrel on Brent. If we stay below that, they will curtail production all the way to the year-end.
Shipping attacks in the Red Sea remain a concern, and Yemen’s Houthi has vowed to continue these until Israel’s aggression against Gaza ends.
HOW CAN YOU SAVE FUEL?
MasterDrive CEO Eugene Herbert said basic driving adjustments could help with fuel and diesel consumption:
- Anticipate changes to traffic conditions and minimise unnecessary braking and acceleration.
- Reducing speed by 20km/h can reduce fuel consumption by 20%.
- Plan your route and use traffic apps and alerts to avoid traffic jams and congestion.
- Keep your RPMs around 3 000, as it can also reduce your consumption by 20%.
- Regular maintenance improves fuel efficiency.
- Minimum use of the aircon.
