More pain at the fuel pumps on Wednesday

A steep fuel price increase will add more woes to the finances of cash-strapped consumers.

On Wednesday, South African motorists will have to fork out an extra R1.20 per litre for petrol, while the price of diesel is set to increase by R1.18 per litre. Unaudited figures from the Central Energy Fund show the increase that will take effect on 6 March will be even steeper than the one in February, according to a media statement by the Automobile Association .

Read:What’s in store for interest rates in 2024? In February, the fuel price increases were 75 cents per litre for petrol and between 70 cents and 73 cents per litre for diesel. The March increase will result in 95ULP costing R24.44 per litre and 93ULP R24.10 per litre inland. The AA attributes the increases to higher international product prices in addition to a weaker rand.

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