The Automobile Association (AA) expects a further hefty hike in fuel prices next month with 95 unleaded petrol heading into record territory when the Department of Mineral Resources and Energy makes the official adjustment next Wednesday.
Based on the latest data, petrol is set for a massive increase of 73 cents a litre, diesel 39 cents, and illuminating paraffin 37 cents.
AA spokesperson Layton Beard says with the increase to the levies factored in, petrol could rise by as much as one-rand a litre, and diesel by 66 cents a litre.
The additional 27 cents to the General Fuel Levy (GFL) and Road Accident Fund (RAF) levies announced by Finance Minister Tito Mboweni in February come into effect in April and will add extra costs to every litre of fuel purchased in addition to the increased monthly adjustment.
Beard says, “We can only stress again the severe additional damage these increases will do to household budgets, both directly and indirectly as the increased transport costs ripple throughout the value chain.”