A photo of several petrol pumps. Photo: Stock/Canva
After weeks of predictions, government has finally confirmed the fuel and petrol price increase for March. Its horrible news…
A photo of several petrol pumps. Photo: Stock/Canva
It’s not very affordable owning or driving a car in this country at the moment. After almost a year of the petrol price mostly going up and up and up. It is going up AGAIN by an even bigger amount next month. With Ukraine literally being invaded by Russia and the world watching on, the price of Brent Crude has soared. At the same time, we know the South African fuel levy constantly eats away at the nation’s wallets.
The Department of Mineral Resources and Energy has now released the official adjusted fuel prices for March. These increases will take effect from the 2nd of March (midnight on Tuesday).
The fuel and petrol price increase for different zones will be announced on the 1st of March.
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Here’s some help with a little quick maths. If you have a small 35L tank, you will pay just over R51 more per fill-up. If you have a 60L tank, you will pay R87 more for a full tank.
Yes, it is pretty bleak.
Government says that the main reason for the increase is the surging crude oil prices. This time, they’re right. On Thursday evening, the cost of brent crude was sitting at over $100 per barrel. It’s now back at $98 as of Saturday morning. You can find the live price here.
The Department of Mineral Resources says the surge is due to the Ukraine invasion and the resulting international sanctions.
“The escalating crisis between Russia and Ukraine which led to a surge in
Dept of Mineral Resources statement
crude oil prices amid supply fears. As well as subsequent sanctions on Russia by the USA and UK which have contributed to the increase in crude oil prices.”