Expect even higher fuel prices in March 2021
More bad news comes from the Automobile Association (AA) as they say another steep increase in fuel prices is to be expected in March 2021. This comes from the AA who commented on unaudited mid-month fuel price data.
This increase is due to what the AA is calling “bullish international oil prices”. Here is more on what they had to say:
“Oil prices advanced at a leisurely pace during January, but the increase has quickened since then. International product prices shot up by around eight percent in the first two weeks of February.” – AA
The expected increase in fuel prices for March 2021.
According to the AA, the current situation shows these increases in price will happen at the end of this month:
- 56 cents per litre for petrol.
- 47 cents per litre for diesel.
- 41 cents per litre for illuminating paraffin.
This following an already sharp increase that we all experienced this month, February 2021. A sliver of good news also came with the announcement. The rand has strengthened by around eight cents against the US dollar, but this is hardly enough to offset the immense fuel prices in March.
We hope that everyone considering and forced to switch to use public transport more with this news stays safe, wears a mask and practices social distancing.
“If oil continues on this trajectory, South Africa’s fuel prices might edge back into record territory in the medium term. Fuel users also remain vulnerable to economic shocks which might weaken the Rand.” – AA
Source: AA
