Motorist Prepare for the Fourth Fuel Price Hike of 2018
It really wasn’t that long ago that South Africans were paying under R14,00, for petrol. In fact, the fuel prices broke this threshold back in April this year. However, now the scales have been tipped so far that citizens of South Africa are about to pay more than the global average of R16,51 per litre. Despite being forewarned about the ever-increasing petrol prices that were to happen in 2018, however, the fourth increase of the year has left South Africans in disarray. Despite the petrol prices being under R14,00 not that long ago. Tomorrow petrol will go up by R1,00 and Diesel will go up by R1,24 per litre putting the fuel price at over or close to R17 a litre depending. Illuminating paraffin will also increase by R1,39 per litre while LP gas will increase by R1,79 per Kg.
According to the Department of Energy, the price increase is due to the average international product prices, our decreasing Rand as well as the exchange rate. The rand/dollar exchange rate led to a higher contribution to the basic fuel price on petrol, diesel, and paraffin by 48c and 50c respectively.
Motorists should brace themselves as the fuel price increases to its most expensive price hike yet – come Wednesday. In fact, the price change comes into effect at midnight on Tuesday. This unprecedented price increase is catastrophic to the motorist of South Africa, but there is little time to revel in despair – because this fuel increase will not be the last of the year. And if the rand continues to remain weak and the international price remains at $75 a barrel the petrol price is said to continue to rise to at least R18,90 in early 2019. Motorists need to find quick and effective solutions when it comes to making their commutes more affordable if they wish to survive what feels like a never-ending increase in petrol.
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