PETROL PRICES TO INCREASE BY R1.27 PER LITRE ON WEDNESDAY, CENTRAL ENERGY FUND CONFIRMS

Motorists will have to brace themselves for another increase in petrol prices. The Central Energy Fund (CEF) has confirmed a retail price increase of R1.27 per litre for petrol (93 and 95 octane) on Wednesday, March 1.

The wholesale price of high-sulphur 500 ppm diesel will rise 30c per litre and low-sulphur 50 ppm diesel will be 31c higher, while illuminating paraffin sees a 13c price increase.

The rand’s depreciation against the US dollar and a slate levy increase are contributing factors to the price hike.

In Gauteng, the petrol prices for March 1 will be 95 ULP: R22.95, 93 ULP: R22.65, Diesel 500 ppm: R21.62, and Diesel 50 ppm: R21.72 per litre.

The increase in petrol prices affects everyone, not just motorists, because it leads to a general increase in the cost of goods and services across the board. This is because many businesses rely on petrol to transport goods and materials, and the cost of fuel is factored into the prices of these goods and services.