Personal-Finance Fuel price adds to our agonyLast week, South Africans had to absorb a 74c per litre petrol price hike, while diesel increased by 91c a litre. But before we go into a flat panic, it is worth remembering that we had the significant decrease in the petrol price in January of R1.22. This month’s price increase was due to a rise in the dollar price of oil and a weaker rand, and economists are not predicting lower oil prices or a stronger currency. To add salt to the wound, fuel taxes will increase in the next few months by 29c a litre for petrol and 30c a litre for diesel. On April 3, the annual fuel levy and Road Accident Fund increases announced in last month’s budget speech will be introduced, raising the fuel price by a further 20c a litre.

Source: News 24 March 10, 2019 09:00 UTC