Cape Town – The Department of Mineral resources and Energy on Saturday published the latest fuel adjustments, and the price of petrol is expected to reach record highs on Wednesday.
These are the new prices for March:
- Petrol 95: increase of R1.46 per litre;
- Petrol 93: increase of R1.46 per litre;
- Diesel 0.05%: increase of R1.44 per litre;
- Diesel 0.005%: increase of R1.48 per litre;
- Illuminating Paraffin: increase R1.21 per litre.
According to EWN, the Automobile Association (AA) said the massive increase in fuel prices will have a detrimental impact on South Africans who are already financially strained.
The rise in prices is due to the escalating crisis between Russia and Ukraine, which led to a surge in crude oil prices amid supply fears, the report quoted the AA’s spokesperson Layton Beard, as saying.
BusinessTech reported that the outlook for April remains unclear but Russia’s military action in Ukraine could push international oil prices higher which will again impact locally.
“For now, it’s a question of wait and see how these prices move in the next few weeks,” the report quoted AA as saying.
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Compiled by Betha Madhomu
