Is ‘Januworry’ planning its big return next month? This is what it seems like after East Cape Fuels, an Engen sales and distribution company, showed that South African motorists might be stretching their pockets even further with a steep fuel price hike on the cards.
This comes after the country saw fuel prices rising by 53c per litre for both Unleaded petrol (ULP) 93 and Unleaded petrol (ULP) 95 in February, while motorists utilising diesel saw an increase of 79c per litre.
A Ferrari driver was even spotted on the side of the road in Cape Town just last month, after he was captured attempting to pump fuel from a plastic bottle into the tank. Many speculated that even though this driver owned a luxurious car, he was feeling the effects of fuel prices as well.
But recent data reportedly shows increases for both petrol and diesel drivers, as this is largely affected by the Rand-Dollar exchange rate and charges to international petroleum product costs, mainly driven by oil prices.
If the market conditions were to persist and these predicted increases are put into effect, prices might be pushed to reach record highs in the country.
The projections show the price of fuel will increase as follows:
- Diesel 50ppm – R1.37 per litre increase
- Unleaded petrol (ULP) 95 – R1.24 p/l increase
- Unleaded petrol (ULP) 93 – R1.23 p/l increase
- Paraffin – R1.31 p/l increase