MASSIVE petrol price increase planned for this week

The Automobile Association (AA) said unaudited data from the Central Energy Fund (CEF) indicates a MASSIVE increase in the prices of both grades of petrol.

THE MASSIVE PETROL PRICE INCREASE WILL COME INTO EFFECT WEDNESDAY

Petrol prices are currently at R22.64 a litre (93) and R22.97 (95) inland. The expected increase would put these fuel grades at R23.16 and R23.53 per litre, respectively.

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According to the latest data from the CEF, ULP95 is expected to climb by around 52 cents/litre, and ULP93 by around 56 cents/litre.

THE EXPECTED INCREASES WOULD ADD FURTHER PRESSURE ON EMBATTLED CONSUMERS

AA furthermore said the expected increases would add further pressure on embattled consumers grappling with food inflation which hit record highs in the first quarter of 2023.

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Meanwhile, the unaudited data shows decreases in diesel and illuminating paraffin prices.

THE DATA SHOWS A DECREASE IN DIESEL AND ILLUMINATING PARAFFIN PRICES

The wholesale price of diesel is expected to decrease by between 31c/l and 57c/l, while the cost of illuminating paraffin is slated to come down by around 32c/l.

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“The decrease in diesel and paraffin prices is certainly good news, especially as the country enters colder months. But the increases in petrol prices will add more strain to already stretched budgets, and consumers are advised to revise their budgets accordingly.

“There is no doubt these are difficult times, and petrol price increases will come as bad news for many who will have to dig even deeper in their pockets to keep mobile.

“The surge in international oil prices is the main driver contributing to the under-recovery in petrol while the average Rand/US Dollar exchange rate during April is actually providing some relief, without which the increases could have been higher.”

the AA said.

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THE ANNOUNCEMENT OF THE OFFICIAL ADJUSTMENT IS EXPECTED IN THE NEXT FEW DAYS

Officially adjusted fuel prices come into effect on 3 May, the first Wednesday of May.

An announcement on the official adjustment is expected by the Department of Mineral Resources and Energy (DMRE) is expected in the next few days.

HERE ARE FIVE WAYS TO SAVE ON PETROL CONSUMPTION:

• Stick to the speed limits – Speeding is not only dangerous but also negatively affects your fuel consumption. By driving at 110 km/h instead of 120km/h, you can save on your petrol bill in the long run.
• Don’t accelerate harshly – Harsh acceleration contributes to higher fuel consumption. Rather look at pulling away from robots or stop streets slowly and gradually. Don’t overwork your engine by driving at too high revs, and if you drive an automatic car, accelerate on a light throttle for early gear changes.
• Keep your eyes on the road – By keeping your eyes on the road, and keeping a safe following distance, you can travel at a more constant speed, and avoid harsh braking. By slowing down gradually for changing robots, or stationary traffic, it’s more economical for you and your car.
• Make momentum work for you – Save some fuel by making your car’s momentum work for you. Build up speed before an uphill stretch, and when you crest a hill, take your foot off the accelerator pedal and use your car’s momentum to get you over.
• Don’t use your aircon too much – We know South African summers can be brutal, and even though using an aircon is more fuel efficient than driving with your windows down, it still increases fuel consumption. By using your aircon more judiciously, you can save fuel when driving.