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Another fuel hike hits motorists

By unknown | Jun 03, 2008 | COMMENTS [ 0 ]

Kamogelo Seekoei

Kamogelo Seekoei

The price of petrol will go up once again after midnight.

This will be the fourth price hike this year and economists expect more increases before the year is over.

The price of all octane grades of petrol will go up by 50 cents, costing in-land consumers R9,96 a litre and R9,72 in coastal areas. Diesel and paraffin will go up by a whopping 71 cents.

Diesel will now cost R10,80 inland and R10,67 in coastal areas.

"This is just the wholesale price," says Ivan Copelowitz of PetroSA. "Retailers can determine their own prices for diesel and paraffin,"

Copelowitz said with the last two increases the price of petrol had gone up by R1,05 a litre, diesel by R1,52 and paraffin by R1,26 a litre.

Now, as the fourth increase looms, Copelowitz says he anticipates another petrol price increase later in the year.

"We can only hope that the next petrol price increase will not be as steep, but one thing is certain, the price of petrol is going to increase again," he said.

Copelowitz said the increase was significant because it will affect people's lives and budgets.

"Can you imagine what a fivepercent increase will mean to people who use transport a lot in their daily lives?" Copelowitz asked.

He said people who used paraffin would also be affected.

"These increases have been very steep. People have generally had a difficult time," he said.

Peter Morgan of the Fuel Retailers Association said service station owners were no longer making any money.

"The question that motorists have to ask themselves is 'who is taking the rest of the money?' because retailers only make a few cents," he said.

He attributed the hikes to worldwide problems and said everyone was affected.


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