Petrol Prices Expected To Increase In March

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There’s some bad news for motorists as the start of the new month swiftly approaches. Fuel costs are predicted to increase significantly soon in South Africa.


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The Automobile Association (AA) analysed data from the Central Energy Fund (CEF) and found that a significant increase in the price of petrol is on the cards for March.  

The latest data from the CEF show that motorists can expect a big jump in the petrol price as of 1 March 2023, largely due to a much weaker rand and movement in international oil prices.

The AA said that not only did this mean motorists would be forking out more at the pumps, but it was also set to see the costs of goods and services increase.

The price of petrol is expected to climb by between R1.22 and R1.27 a litre, and diesel by around 28 cents.

Based on the anticipated increases, motorists will be paying between R22.25 and R22.90 for a litre of 95 unleaded petrol from next month, depending on whether they’re purchasing it on the coast or inland.

This is a significant jump from what they’re currently paying, which is between R21.03 to R21.68

Here are the expected changes:

  • Petrol 93: increase of 127 cents a litre;
  • Petrol 95: increase of 127 cents a litre;
  • Diesel 0.05%: increase 30 cents a litre;
  • Diesel 0.005%: increase of 31 cents a litre;
  • Illuminating paraffin (wholesale): increase of 13 cents a litre.

AA Spokesperson Layton Beard says the increases will hurt already strained consumers amid the current cost of living crisis.

“We urge consumers to monitor their fuel usage carefully, and to budget according to the new fuel prices.” which come into effect Wednesday 1 March 2023.

Meanwhile, there is a bit of good news for motorists and prices for the month of April.

For the second tax year in a row, National Treasury has opted to provide some relief for motorists in 2023 by not hiking the General Fuel Levy or Road Accident Fund levy this year. 

Finance Minister, Enoch Godongwana made the announcement during his 2023 Budget Speech last week. 

The General Fuel Levy currently stands at R3.94 per litre, and the RAF levy is at R2.18 per litre of 95 petrol. Combined, they add R6.12 to every litre of petrol and diesel sold in the country.

 

Suggested Article:

A motorist driving home.

The Department of Mineral Resources and Energy has announced the fuel price adjustments for the last month of 2022, leaving some motorists with a tighter wallet while others will receive some relief. 

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