Motorists are bracing for yet another fuel price increase as they welcome the new year, marking the third consecutive adjustment that adds to the financial burden faced by consumers.
Effective from 00:01 on Wednesday, the Department of Mineral Resources and Energy announced increases across petrol and diesel categories, while households relying on illuminating paraffin will see a slight decrease in prices.
* Petrol 93 ULP & LRP: 19.00 cents per litre increase
* Petrol 95 ULP & LRP: 12.00 cents per litre increase
* Diesel (0.05% Sulphur): 7.50 cents per litre increase
* Diesel (0.005% Sulphur): 10.50 cents per litre increase
In contrast, there is a slight reprieve for households relying on illuminating paraffin for heating and lighting, with a decrease in prices:
* 9.50 cents per litre decrease (wholesale)
* 13.00 cents per litre decrease in Single Maximum National Retail Price (SMNRP)
However, the lifting of diesel and petrol prices will inevitably contribute to increasing costs in transporting goods and services, prompting fears of a potential inflationary spiral.
Henry van der Merwe, chairman of the South African Petroleum Retailers Association (SAPRA), expressed deep concern over the compounded impact of consecutive price hikes.
“This adjustment is particularly challenging for businesses and consumers alike as we start a new year when consumer budgets are traditionally stretched after the festive period,” Van der Merwe articulated.
“We urge all South Africans to adapt their fuel usage wherever possible and explore ways to mitigate the effects of rising costs. Holidaymakers travelling home will also need to factor in the extra increases.”
As prices rise, the pressure will widen, affecting the general cost of living and the sustainability of small businesses in the petroleum retail sector.
Van der Merwe also stressed the urgent need for consumers to consider supporting these smaller operations during these challenging times, reminding the public of their vital role in our economy.
“As SAPRA, we continue to advocate for measures that can alleviate pressure on both consumers and our members,” he noted, highlighting the need for a community approach to managing the growing financial strain.
Additionally, Robert Maake, spokesperson for the Department of Mineral Resources, explained the rationale behind the price adjustments.
The increase is primarily due to the weak rand against the US dollar.
“The minister has approved the restoration of all the fuel pricing zones that were affected by the closure of the port of Port Elizabeth to the original Magisterial District zones with effect from the 1st of January 2025.”
The Star