By: Natasha Archary
Motorists are reminded to fill up their tanks as a big hike in fuel prices kicks in from midnight on Tuesday, 31 January.
With an expected increase of 58c/litre in the cost of 93 Octane and 52c/litre increase in 95 Octane, the cost of fuel is heading in the wrong direction yet again.
According to BusinessTech, this can be attributed to an under-recovery of global fuel prices.
Despite the Rand’s strength against the US Dollar, South Africans cannot benefit from the cost of Brent Crude oil, which has had a volatile run at the start of the year.
The expected fuel price hikes are as follows:
- Petrol 93: increase of 28 cents a litre;
- Petrol 95: increase of 28 cents a litre;
- Diesel 0.05%: increase of 09 cents a litre;
- Diesel 0.005%: increase of 01 cents a litre;
- Illuminating paraffin: increase of 58 cents a litre
The Department of Mineral Resources and Energy are yet to confirm the exact and final increases, and the predictions above are based on latest data by the Central Energy Fund (CEF).
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