After the latest fuel price hike, which took effect at midnight on Tuesday, 1 February, motorists will have to dig deeper into their pockets starting today, Wednesday, 2 February.
The Central Energy Fund (CEF) said that the retail price of gasoline (93) will increase by 53 cents per litre, while 95 will increase by the same amount.
Furthermore, the wholesale price of diesel (0.05 percent sulphur) increased by 80 cents, while the 0.005 percent increased by 79 cents.
Finally, the wholesale cost of illuminating paraffin increased by R1.01 per kilogram.
In plain English that means it will be a LOT more expensive the next time you visit your nearest petrol station – and perhaps time to get out the bicycle and walking shoes.
Inland and coastal fuel prices differ
The new Inland price of petrol unleaded 95 is R20.14 per litre.
If you live in Gauteng and own a BMW X3 with a fuel tank capacity of 60 litres, as of this morning it will cost you R1 208.40 to fill up with unleaded 95.
Prior to the latest price hike, it would’ve cost R1 176.60.
That’s an extra outlay of R31.80.
If you were to fill the same car up with diesel 0.005% (R18.07) today, it would set you back R1 084.20.
At the ‘old’ price of R17.28 you would’ve paid R1 036.80, making it R47.40 more expensive after the latest price hike.