Fuel Shock To Push Up Cost Of Getting Around

South Africans are waking up to significantly higher fuel prices on Wednesday, with motorists now paying more than R30 a litre for inland 95-octane petrol.

The new prices came into effect at midnight, with inland 95 petrol increasing by R3.33 to R30.25 a litre.

Inland 93 petrol has also climbed by R3.12 to R29.88 a litre, while motorists at the coast will pay R29.38 for 95 petrol.

The increase is not limited to petrol.

Diesel prices have also risen sharply. Wholesale 0.05% sulphur diesel is now R31.95 a litre inland and R31.08 at the coast, while 0.005% sulphur diesel has increased to R33.29 inland.

Illuminating paraffin has also gone up by R3.58 a litre at wholesale level.

The latest increases are likely to add pressure to transport and household costs, particularly as diesel is widely used in commercial transport and logistics.

The Department of Mineral and Petroleum Resources attributed the increases largely to higher international petroleum prices. Tensions between the United States and Iran have contributed to pressure on global oil markets.

Although the rand strengthened slightly, this was not enough to offset the impact of higher international petroleum product prices.

Some motorists rushed to filling stations on Tuesday evening to refuel before the increases took effect, with reports of long queues at some stations.

The latest adjustment means motorists will now have to factor substantially higher fuel costs into their monthly budgets.