Next week's petrol price increase not as bad as previously predicted
Wednesday next week, we'll be paying a higher price for fuel...
Central Energy Fund shared data with Fin24, which revealed that, yes, fuel prices will be increasing, just not by as much as we had previously been told.
Earlier in the month, it had been predicted that we will be paying R2.15 more for fuel.
READ MORE: Another record fuel price looming in March
This will not be the case next week Wednesday when the petrol and diesel prices increase.
It's looking a little better - 95 octane petrol is set to increase by R1.84/litre, 93 octane is expected to climb by R1.76/l, diesel by between R2.98/l and R3.14/l, and illuminating paraffin by R2.51/l, Fin24 shared.
This is all thanks to a falling oil price and the Rand strengthening.
READ MORE: Liquor association bemoans excise duties hikes, AA raises toast to unchanged fuel levies
The Russia-Ukraine war has had a huge impact on fuel prices recently. Russia is the world’s third-largest producer of crude oil, and the expectation that it will be locked out of the market caused a surge in oil prices.
The peace talks between the two countries has encouraged the market, therefore this less harsh increase in fuel.
You know you can always try out for an April Fuel's Day voucher on Friday if you have really been struggling for petrol money.
FOR RELATED CONTENT:
Main Image Courtesy: Unsplash