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Sep 04 2012 13:47

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Petrol price shock

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How can motorists survive the next round of petrol and resultant food price hikes?

Cape Town – Petrol stations countrywide are expecting long queues of motorists ahead of the latest shock increase of 93c a litre in the price of all grades of petrol, which will kick in at midnight tonight.

Motorists using petrol will have to fork out close to R50 more for a 50l tank, while those using diesel will have to pay R34.50 more for their fuel.

In the biggest increase announcement this year, the department of energy last Friday said the price of all grades of petrol will rise by 93c/l and for all grades of diesel by 69c/l on Wednesday.

Motorists saw only two petrol price cuts in the last nine months – in June the price of all grades of petrol fell by 55c/l, and in July the prices of 93 and 95 octane were slashed by 89c/l and 85c/l respectively.

The wholesale price of illuminating paraffin will go up 73 cents a litre.

The latest increase is attributed to rising oil prices, a weaker rand and an increased retail margin to finance wage increases for pump attendants and cahiers at garages. A higher slate levy to compensate for an under recovery in fuel prices is also to blame.

SABC News reported that trade union Uasa has meanwhile raised concerns over the hike, saying that it may lead to job losses.

Uasa's Jacques Hugo said: "We are concerned that the latest fuel hike will influence companies to start looking at their bottom line because of the increased costs to transport and to manufacture goods. 

"And we are seriously concerned that that could possibly lead to job losses."

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