Massive fuel price increase set for next week
The Automobile Association says the fact that the oil price has already significantly increased is really bad news
Here's proof that the #RussiaUkraineCrisis goes far beyond the borders of the conflict.
East Coast Radio's Business Watch spoke to journalist Nick Hedley this week to get more information on the impact the crisis will have on South Africans.
Read more: Liquor association bemoans excise duties hikes, AA raises toast to unchanged fuel levies
This week, following the the US and UK sanctions imposed on Russia, ECR Newswatch reported the following:
"As South Africans, we are not an island and even though major events may happen thousands of kilometres away from us these events are big enough that they will, in some way, impact on us locally."
"And because we are buying it at a more expensive price, it means that retailers and wholesalers are going to have to sell it at a more expensive price.'
Read more: Another record fuel price looming in March
The fuel price is expected to increase from Wednesday 2 March 2022.
Department of Energy spokesperson Robert Maake said the following:
- both grades of petrol will increase by the followi R1.46 per litre
- Diesel will increase between R1.44 and R1.48 per litre
- illuminating paraffin will see a spike of R1.21 per litre
- Maake adds LP gas will retail for 70 cents more per kg
Read more: South African students in Ukraine living in fear: Expat SA
To get all the updates on the crisis, click here.
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