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Cape Town - The latest petrol price hike will see motorists paying the highest for 95-octane petrol over the past 12 months, according to data from the Automobile Association of SA (AA).
The department of energy announced on Friday that the price of 93 octane unleaded petrol and lead replacement petrol would go up by 39 cents a litre (c/l), and that of 95 octane by 38c/l.
The means that one litre of 95-octane petrol at the reef will now cost R13.57c/l from R13.19c/l, while motorists at the coast will pay R13.20c/l from R12.82c/l.
From January 2013 to January 2014, the price of 95 octane at the reef saw a R1.71c price rise.
During the same period, it increased at the coast by R1.69c.
Efficient Group economist Dawie Roodt told Fin24 ahead of the petrol price announcement that 2014 is going to be a difficult year for consumers.
"This increase will not break the camel's back, but the accumulative increases will eventually be too much."
Also speaking to Fin24 prior to the hike, debt expert Neil Roets said that most consumers will not be able to escape the effect of the price increase.
He said that January is generally a difficult time for consumers because a lot of money is spent over the festive season and there are a lot of financial demands, like school uniforms and stationary.
On Friday, the department also said that both grades of diesel would go up by 32c/l, while the price of illuminating paraffin would increase by between 39 and 52c/l.
The department of energy announced on Friday that the price of 93 octane unleaded petrol and lead replacement petrol would go up by 39 cents a litre (c/l), and that of 95 octane by 38c/l.
The means that one litre of 95-octane petrol at the reef will now cost R13.57c/l from R13.19c/l, while motorists at the coast will pay R13.20c/l from R12.82c/l.
From January 2013 to January 2014, the price of 95 octane at the reef saw a R1.71c price rise.
During the same period, it increased at the coast by R1.69c.
Efficient Group economist Dawie Roodt told Fin24 ahead of the petrol price announcement that 2014 is going to be a difficult year for consumers.
"This increase will not break the camel's back, but the accumulative increases will eventually be too much."
Also speaking to Fin24 prior to the hike, debt expert Neil Roets said that most consumers will not be able to escape the effect of the price increase.
He said that January is generally a difficult time for consumers because a lot of money is spent over the festive season and there are a lot of financial demands, like school uniforms and stationary.
On Friday, the department also said that both grades of diesel would go up by 32c/l, while the price of illuminating paraffin would increase by between 39 and 52c/l.
