Big Petrol Price Increase
The much feared petrol price increase is finally here.
93 Octane increases R2.33/litre
95 Octane increases R2.43/litre
Diesel increases R1.10.Litre
The increase follows an increase in the cost of Brent Crude. The easing of Covid-19 lockdown restrictions in China and the ongoing fuel/gas tensions between the EU and Russia have pushed up the cost of crude oil.
It Could Have Been Worse. It Might Still Be
The price did not shoot up by as much as it might have (some were expecting a R3.50 increase) because of the decision by government to extend the general fuel levy reduction for an additional month.
Though this temporary R1.50 reduction has helped, it is likely to make its way back into the petrol price in the very new future meaning another hit to commuters and those who transport goods.
All eyes now turn to watching the strength of the Rand vs Dollar and what happens next in Europe and how this will impact on prices.
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