February Petrol Price Hike

Eleanor Mavimbela – AA SPokesperson talks about In the middle of January, South Africans had something to cheer about, despite dealing with load shedding and an interest rate hike, as mid-month data pointed to a decrease in fuel prices. <br /> <br /> Things changed quickly towards the end of the month as the Department of Mineral Resources and Energy sent shockwaves across the country. <br /> <br /> The increase, which kicked in today, February 1, is a complete reversal of conditions at the start of the year and even the middle of the month, when a petrol and diesel price cut was still on the cards. <br /> <br /> Motorists will now have to fork out an additional 28 cents per litre for both 95 and 93 octane petrol, while diesel will be hiked by between less than a cent and around 9c a litre. <br /> <br /> The latest price hikes will push the price of petrol in Gauteng to R21.68 a litre, from R20.14 a year ago. <br /> <br /> The main driver behind the higher local prices is the rising cost of international petroleum product prices, pushed higher by a stronger global oil price. <br /> <br /> The latest fuel price increase, which comes in the wake of a series of steep rate hikes announced by Reserve Bank Governor Lesetja Kganyago and the unsettling news of a massive 18.65% increase in electricity tariffs that will kick in in April, extinguishes the last flame of hope of a better year for South Africans. <br /> <br /> According to the AA, the increase will put an even bigger burden on consumers who are already under strain owing to the rising cost of living in South Africa. <a href="https://www.kaya959.co.za">kaya 959</a>