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June 6th, 2018 by


South African’s are due for another monumental fuel price hike on the 6th of June. We kicked 2018 off at R14.20 per litre of petrol, and things were looking pretty good for us in Feb and March as we saw consecutive drops. Little did we know…

By May we were sitting on R14.72. Now, we can expect a huge increase of 82c a litre – bringing us up to a record R15.54.

The consumer will feel it. The minibus taxi fare will no doubt be affected, and then food as the costs of agriculture and transportation surges.

With the fuel price increasing, we can help you lower your car insurance premiums so that you have more money to put into your tank!

 

CTA Asset9 700x149 - Will The Petrol Price Reach R17 By July?

Massive Petrol Price Hike

The fuel price hike applies to 93 and 95 octane petrol, as well as paraffin. The poor, who use illuminating paraffin for lighting, heating and cooking, will be hit the hardest.

Diesel is going up between 85 and 87 cents per litre.

shutterstock 244371808 - Will The Petrol Price Reach R17 By July?

Energy Minister, Jeff Radebe, announced the adjustments last week. Reasons for the hike were stated as the result of depreciation in the Rand against the US Dollar, as well as an increase in the global price of crude oil.

According to the Automobile Association, the latest hike also takes into account the leftover under-recovery from April. A substantial part of the R15.54 we pay through our nose includes the government’s fuel taxes. The taxes, as you may remember, officially increased back in April. This included R3.37 for the General Fuel Levy and R1.93 for the Road Accident Fund (RAF).

That’s not even the worst of it.

The AA also warned that, should market conditions continue as they have, motorists can expect yet another petrol price hike in July.

The price of petrol is expected to shoot past the R16 mark and on toward R17 a litre. Which is just plain pathological.

On the plus side, Russia and Saudi Arabia are about to boost their oil production. So, all we really need to do is weather this storm and hope that the Rand stabilizes.

We still have one of the better, more transparent fuel systems in the world. So, there’s that.

Start your car insurance quote.

  • Guest

    We are so tired of these incompetent and dumb struck idiots in charge of this country. 24yrs later and a once beautiful and vibrant country was reduced to what Donald Trump quite rightly refers to as a shit hole. To top it, they haven’t even got any shame or self respect to admit it, but instead they now want to focus on a minority group in SA who allegedly are the cause of all their incompetence. What an inferior bunch of morons. No wonder Africa amounts solely to remaining a shit hole decade after decade!!!!!!!!!!

    • Debbie Loots

      You are 100% correct👍🏻

  • Ash

    I love it how they say “agriculture” costs will increase. That is true, BUT, as a farmer, we never see the increases, in fact, most of the time we have decreases, yet the consumer is being absolutely robbed by the supermarkets and other middlemen whilst the poor farmer is out there in the sun, wind, rain, hail, snow, up early and in to bed at midnight trying to feed our nation. I wish Carte Blanche would also do a piece on our long work hours like they did for the doctors recently, just so everyone can really appreciate that bowl of Corn Flakes for breakfast or that tasty lamb chop going on to the braai!