March Fuel Price Hike, Petrol Predicted to Increase to Over R21 per Litre

• The Central Energy Fund has announced that in the first week of March 2021, fuel prices will increase
• The dollar-rand exchange rate and global oil prices determine what South Africa's fuel price will be
• Despite the rand strengthening against the dollar, fuel prices will increase because of the rise in Brent crude oil prices

JOHANNESBURG - The Central Energy Fund has announced that fuel prices will increase in the first week of March 2021, including petrol, which is predicted to rise to over R21 per litre in inland provinces as Gauteng.

In coastal provinces, including the Western Cape, petrol will cost more than R20 per litre. Paraffin and diesel prices are set to break records in March.

New fuel prices and determining factors

According to News24, the dollar-rand exchange rate and global oil prices determine what South Africa's fuel price will be. Despite the rand strengthening against the dollar, fuel prices will increase because of the rise in Brent crude oil prices.

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BusinessTech reports that fuel prices will increase as follows:

• Petrol 95: R1.26/l;
• Petrol 93: R1.25/l;
• Diesel 0.05%: R1.32/l;
• Diesel 0.005%: R1.34/l;
• Illuminating Paraffin: R1.26/l.

Reactions to the fuel price increase

@ColbertAzwi said:

"R22 per litre!! We are screwed as common civilians, while politicians have state petrol cards."

@Napemogoru remarked:

"We are going for R30."

@Veldpark believes:

"Many of the fuel levies should be decreased."

@tati_two suggested:

"We go to the streets and force this government to reduce their levies they are channeling to corruption."

@twenty7d shared:

"Comrades are quiet about fuel hikes but make noise about the land they want to keep to themselves."

Mzansi's fuel price is above other African states, how fuel price is calculated

Speaking of fuel prices, Briefly News reported that South Africa saw another huge fuel price increase on Wednesday, 2 February. This new fuel hike saw the price of petrol rise above the R20 per litre mark. Briefly News takes a closer look at how South Africa's fuel price is calculated, and some of the reasons fuel are much more expensive in Mzansi than in other African countries.

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JOHANNESBURG - South Africans are still coming to terms with the fact the price of petrol has once again gone over the R20 per litre mark since December 2021. Many citizens were outraged by the sharp increase in fuel, but their anger subsided slightly when the fuel price decreased in January 2022.

However, on Wednesday, 2 February, the Department of Energy and Mineral Resources announced another fuel hike which was just as drastic as the fuel hike many complained about in December.

Source: Briefly News