petrol price

Expect steep petrol price increases in March 2021

Published by Andile Sicetsha

Motorists are warned to prepare their monthly budgets for further petrol price increases in March 2021.

Fuel costs on the rise in Q1:2021

The Central Energy Fund (CEF) recently published its mid-month estimates for possible rises in fuel and by the looks of it, we are in for a pinch at the tanks.

Already, depending on whether you’re a coastal or inland customer, the cost of filling up your tank with petrol can range between R899 and R940. For diesel motorists, the range is around R778 and R817 for a full tank.

However, due to a number of circumstances, some outside of South Africa’s control, motorists should expect a steep hike in petrol prices in March.

Petrol price increases for March 2021: Here are the estimates

CEF’s daily fuel price data shows an under-recovery across the board. In essence, this means that every fuel type is expected to cost more next month.

Here is a snapshot of estimated petrol price increases for March 2021:

  • Petrol 95: increase of 60 cents per litre – a 4 cents rise from mid-month estimates;
  • Petrol 93: increase of 58 cents per litre – a 4 cents rise from mid-month estimates;
  • Diesel 0.05%: increase of 50 cents per litre – a 5 cents rise from mid-month estimates;
  • Diesel 0.005%: increase of 51 cents per litre – a 4 cents rise from mid-month estimates;
  • Illuminating Paraffin: increase of 44 cents per litre – a 4 cents rise from mid-month estimates.

Due to the volatility of the currency exchange rate between the rand and the dollar, there is a great expectation that these estimates will rise by a few cents by the end of February.

Also, the Energy Department must still add its levies and other distribution costs. If the CEF’s estimates are on point, then motorists should expect to pay more for fuel from Wednesday 3 March 2021.

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