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Rushing to fill your tank ahead of the midnight fuel price hike? The National Association of Automobile Manufacturers of South Africa (NAAMSA) has some sage advice for you.
The association on Tuesday said as demand for energy rises, its cost as a precious resource also rises.
“This is exactly what motorists have experienced in South Africa as a result of the rising price of crude oil, compounded by exchange rate depreciation resulting in record prices of fuel at the pump,” it said.
Petrol prices reach record highs this week, as the Department of Energy on Monday announced that the price of petrol will rise by between 99 cents and R 1 a litre.
Read – Petrol prices: DA demand government slash the R5.30 fuel levy
As of midnight, a litre of petrol 93 (ULP and LRP) will rise by 99 cents, while that of 95 (ULP and LRP) will increase by R1.
This means that a litre of 95 will cost motorists R17.08 from R16.08, in Gauteng while both grades of diesel namely Diesel 0.05% and 0.005% Sulphur will increase by a whopping R1.24 a litre.
In September, the fuel price remained unchanged following Minister Jeff Radebe’s announcement of a 4.9 cents a litre increase in the retail margin of petrol.
Read – Petrol prices: Will President Ramaphosa reduce fuel taxes?
At the time it was announced that the 4.9 cents a litre increase will be ring-fenced for the wages of the forecourt staff. The 4.9 cents a litre increase is in line with the Motor Industry Bargaining Council (MIBCO) agreement of 18 November 2016.
With the hike in petrol costs, South Africans who have a
“high level of dependence on motor vehicles as a means of mobility and transport, commuters and motorists, have experienced an “almost immediate monthly impact on their disposable incomes as a result of rising fuel prices”.
Read – Petrol prices: How much the fuel tax and levy earns the government
NAAMSA highlighted several options for motorists to reduce vehicle fuel consumption and limit the negative financial effects of the fuel price hikes as well as reduce greenhouse emissions.
It said that the fuel economy of cars has improved significantly over the years with many new models currently available in South Africa offering substantial fuel consumption benefits.
The latest generation diesel vehicles, while offering all the refinements and performance of their petrol engine counterparts, also offer significant fuel economy benefits.
“Factors such as driving style, vehicle loading, tyre pressures and road conditions continue to affect real fuel consumption,” said the association.
Read – Petrol prices explained: This is why fuel costs are soaring in South Africa
The association had these tips for motorists to improve their vehicle fuel efficiency:
The association represents the collective, non-competitive interests of the new motor vehicle manufacturing industry in South Africa and comprises 22 companies involved in the production of cars and commercial vehicles which businesses collectively employ about 30 000 persons.