South Africans have raised concerns over the fuel hike in May, the second hefty increase in a row, driven by high international oil prices due to the Iran war.
On Wednesday, the retail price of both petrol grades will rise by R3.27 a litre, while the wholesale price of diesel will go up by R6.19/l. Illuminating paraffin goes up by R4.22/l.
Motorists in Gauteng will pay R26.63 for a litre of 95 unleaded petrol, and drivers at the coast will pay R25.76.
This has forced motorists to compromise on certain things so they can afford transport. Some people have reportedly expressed plans to cut down on other essentials, such as groceries, and travel less to survive this hike.
Meanwhile, others are considering switching to public transport. However, taxi prices are also set to increase, meaning the situation doesn’t only affect motorists but commuters as well.
According to data from Discovery Insure, the April price increase saw motorists buying 35% less fuel than in March.
“Consumers are tightening their belts by driving less, combining trips, and being more deliberate about when they use their cars,” said Robert Attwell, CEO of Discovery Insure.
TimesLIVE
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