South African Motorists Face Skyrocketing Fuel Prices, March Surge To Push Beyond R24 Per Litre

• Data from the Central Energy Fund shows that a major petrol price and diesel price hike is cemented for March
• Starting from March 6, motorists will have to pay over R24 per litre as both diesel and petrol are expected to see a hike of over R1.00 per litre
• The upcoming price hikes are primarily fueled by the sustained elevated levels of the global oil price amid ongoing Middle East tensions

Trisha Pillay is a Briefly News current affairs journalist in Johannesburg. Beginning her 13-year-long career at ENCA, she honed her skills in reporting, and coverage of crime and court cases, which she further developed at The Citizen Newspaper, African News Network and Newzroom Afrika. Do you have a hard news story you would like to share? Email trisha.pillay@briefly.co.za with CA in the subject line.

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JOHANNESBURG - South Africans have been told to brace themselves for a hefty fuel and diesel hike starting on the 6th of March.

Fuel prices to soar

According to Business Tech, Data from the Central Energy Fund shows that the under-recoveries have pulled back from around R1.30 and R1.50 per litre for petrol and diesel, respectively, to around R1.20 per litre for both.

Despite a slight positive shift, the anticipated increase in March is expected to push petrol prices back above R24.00 per litre (95), undoing a significant portion of the relief experienced due to price drops since November 2023.

The combined increases in February and the anticipated hikes in March sum up to nearly R2.00.

Global oil prices soar

Prices are going up mainly because the cost of oil worldwide has been consistently high. This is because of ongoing problems in the Middle East and supply pressures from OPEC+ nations. Additionally, the South African rand is weaker and is trading at over R19.00 to the dollar.

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South Africans express frustration

People across the country are frustrated with the rising cost of living. The rise in fuel costs will lead to a ripple effect on other commodities, impacting the economy.

Read the reactions below:

@Mike Lans shared:

"The anc pulling the last bit of money out of us. If the anc comes into power again we ALL need to stand up against them. They bleeding us ALL dry."

@Lockset Lockstar commented:

"Everything is increasing even the number of unemployed people increasing. This is madness."

@Papiki Kwena Mogale said:

"You can't always use petrol hike to prevent accidents during holiday. Everytime when we approach easter holidays this happens."

@Bishop Emanuel exclaimed:

"This country is finished."

@Cosatu Headquarters Braamfontein explained:

"Cost of living is too high for poor working class."

@Sibusiso Jnr Zulu shared:

"ANC last dance. They are fundraising by all possible ways. Vote ANC and stay in poverty."

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Fuel price hike leaves South Africans frustrated

In a similar story, Briefly News reported that South Africans are expected to hold on to their pockets after petrol is likely to increase in March.

Fuel prices are expected to increase by over R1 per litre for petrol and diesel, and there are a few other reasons why it is increasing.

South Africans felt depressed that food was becoming expensive, and the increase in fuel prices was forcing them to stretch the dollar.

Source: Briefly News