As of Wednesday 2 March, motorists will enjoy a substantial decrease in the price of petrol while diesel will increase moderately.
The weakening Rand has caused fuel price havoc in South Africa this year, but ongoing oil price weakness and marginal improvements in the Rand/US Dollar exchange rate in February has resulted in a decrease of the petrol price for March 2016. The price of diesel will however increase.
The Department of Energy released a statement indicating that international petrol prices decreased while diesel increased during the period under review. The price of crude oil increased compared to the previous pricing period amidst rumours that OPEC would cut production.
Although this is fairly good news for motorists come March, the outlook for April will be less appealing as the recent decision by the Treasury to increase the fuel levy by 30c will take effect in that month. In addition to this the 2016 Budget also introduced a new tyre tax and increased CO2 tax. Read more about it: Budget 2016: Motorists slapped with levies, higher emissions tax
Motorists are also faced with rising new car prices in 2016 and the recent interest rate hike will continue to put consumers under pressure.
Fuel Prices in South Africa for March 2016
Petrol
Reef 95 Octane – R11.74 (-69c / litre)
Reef 93 Octane – R11.46 (-69c / litre)
Coast 95 Octane – R11.31 (-69c / litre)
Coast 93 Octane – R11.20 (-69c / litre)
Diesel
Reef 0.05% – R9.58 (+15c / litre)
Coast 0.05% – R9.25 (+15c / litre)
Reef 0.005% – R9.62 (+14c / litre)
Coast 0.005% – R9.30 (+14c / litre)
*Wholesale Diesel price quoted. Prices may vary between fuel retailers.
Want to save on fuel? Consider this…
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