Motorists will be digging deeper into their pockets when paying for fuel as the prices are set to increase with effect from midnight, March 3.

The price of petrol is expected to increase by 65 cents per litre, while a litre of diesel will go up by between 54 and 57 cents and paraffin by 47 cents.

The price hikes come as food prices also go up and an increase in electricity tariffs looms.

According to the Department of Mineral Resources and Energy, the fuel hikes were driven by higher Brent Crude oil prices, and an increase in the price of finished petroleum products. The stronger rand also led to lower contributions to the basic fuel prices of petrol, diesel and illuminating paraffin by around 14 cents per litre.

The Automobile Association (AA) recently attributed the latest fuel price hike to increased economic activity because of the global roll-out of the Covid-19 vaccines.

Increased economic activity has led to the appreciation of the rand against the dollar and an increase in demand for oil.


Fuel price to increase at midnight | Witness (