Johannesburg - South Africa’s fuel price roller coaster is set to ascend in a more expensive direction in March, according to mid-month data released by the Central Energy Fund.
While it’s too early to predict next month’s fuel prices with a great deal of accuracy, it seems inevitable that motorists will be facing a much steeper increase than February’s 7 cent hike for petrol.
Current data, averaged out for the month so far, points to increases of 42 cents per litre for petrol and 59 cents per litre for diesel. However, the past three days have seen daily price deficits of over 50 cents a litre - in fact Thursday was 80 cents in the red.
If this trend continues, it could easily push the petrol price increase beyond 55 cents by the end of this month and the bad news is that the rand and international oil prices are continuing to work against us.
On Thursday the rand broke through the R14 to the dollar mark, depreciating from R13.30 at the beginning of the month, while the oil price has recently been hovering around $64 a barrel, up around $2 from earlier in February.