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Fuel Hike Coming

Having already had an 81 cents/litre fuel hike in February, South Africans should now brace themselves for another spike of roughly 66 cents/litre.

‘South Africans should now brace themselves for another spike or roughly 66 cents/litre’

International Factors And Supply & Demand

As the Rand continues to slip in relative value against the US Dollar the cost of fuel is set to rise. There has also been an 8 week run of rising oil prices internationally as supply and demand try to find a point of balance. At present, the demand is higher than supply thus driving the price upwards.

An additional local factor is also the recent announcement (during the 2021 budget speech) of additional levies for fuel related to the Road Accident Fund.

Be Proactive

If you are already feeling the pressure of the rising cost of living then you should consider speaking to a professional Debt Counsellor (who is registered with the National Credit Regulator) for some advice.