READ: Fuel price could hit R40 per litre according to experts
The ongoing war in Ukraine could almost double fuel prices in South Africa.
It's no secret that the Russian and Ukraine war has had a global impact on economies.
Earlier this week, we saw the shocking story of someone filling up their tank and not paying their bill, leaving a petrol attendant with a R733.10 bill to cover.
The rising price of commodities like fuel has severely impacted South Africans and experts fear that this could only be the beginning of the impact.
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André Thomashausen is an emeritus professor of international law at Unisa and he spoke to local media outlet IOL and stated the following:
- “In a worst-case scenario, South Africa could expect liquid fuel prices to increase to about R40 per litre."
- “As Eskom energy production depends much on imported diesel, electricity prices could increase by up to 40%."
- “This could have a devastating effect on all the parameters of the current budget and sink South Africa’s hopes for a post-Covid economic recovery.”
According to MyBroadband, motorists who live inland will pay R1,281 to fill up a 60-litre tank with 93 unleaded, which is already an increase of R87.60 more than in February.
MyBroadband also went on to state that the war will also affect farmers, which in turn will have a direct impact on consumers.
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On Wednesday 2 March, ECR Newswatch reported that motorists in South Africa would be forking out more for fuel and toll fees for those traveling across the country.
Motorists passing through the Mariannhill Toll Plaza will now have to fork out an additional 50 cents in fees.
- Tariffs have gone up to R13.50 for cars.
- Drivers of Class 4 heavy-duty vehicles will be paying R47.00.
Sanral says the price increases will go towards improving road infrastructure and operational costs.
Read more: Toll tariffs increase, fuel prices hike: What you need to know
With no end in sight in the crisis, we will just have to keep an eye out for ways to use our resources as efficiently as possible.
Earlier this week, French president Emmanuel Macron warned, statement to AFP, in a that the 'war will last'.
Read more: How to be fuel efficient in light of the fuel price increase
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Main image attribution: Pixabay