SIGNIFICANT fuel price increases expected this week

Data from the Central Energy Fund is showing SIGNIFICANT price increases for all grades of fuel this month.

SIGNIFICANT FUEL PRICE INCREASES EXPEXTED THIS WEEK

According to reports, The Automobile Association (AA) said the numbers indicate the short-lived relief African motorists enjoyed in the past three months is over.

What can South African motorists expect?

93ULP and 95ULP petrol are expected to climb by between 64c a litre and 66c/l respectively, while diesel is expected to increase by about 63c/l.

HERE IS WHAT SOUTH AFRICAN MOTORISTS CAN EXPECT

Illuminating paraffin is expected to be 47c/l more expensive in February.

“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,” said the AA.

Based on these numbers, a litre of 95ULP inland will climb from 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 WILL HAVE A NEGATIVE IMPACT ON HOUSEHOLD BUDGETS

“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 recovering from festive season spending and stretched budgets. The cumulative effect on personal finances will be a further reduction of disposable income exacerbated by increases to goods and services which must recoup the higher fuel input costs.”

the AA said.

February’s fuel price changes will kick in two weeks from now, on the 7 February 2024.

THE WEAKER RAND IS CONTRIBUTING TO THE EXPECTED INCREASE 

AA has advised motorists to add a little extra to their fuel budgets for February.

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THE OFFICIAL INCREASE IS EXPECTED TO COME INTO EFFECT ON 7 FEBRUARY 

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HOW CAN YOU SAVE FUEL? 

MasterDrive CEO Eugene Herbert said basic driving adjustments could help with petrol 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.

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