IT MAY increase by R4 a liter of petrol because of the war in Iran.
The latest figures released by the Central Energy Fund (CEF) show that both types of petrol will increase significantly next month if the price of oil continues to rise globally.
The figures for the middle of the month also show that diesel will also increase.
Since the start of the war between Iran and the United States, the price of oil has increased significantly around the world.
It is reported that the price of oil in the world has increased by 50% since the start of the war. As the war continues, some countries have started to run out of petrol.
However, there is no evidence that there may be a shortage of petrol in South Africa, it appears that it will increase significantly.
Statistics show that the 93 petrol will increase by R3.87, and the 95 will increase by R4.27 if there are no changes in the price of oil.
If petrol increases by this amount, it will mean that it will cost more than R24 per litre, which is what happened at the beginning of 2024.
Diesel will increase by R7 and paraffin will increase by R8.99.
This is not the first war that will affect the people of this country. Oil prices rose sharply in the country when the war between Russia and Ukraine began.
It even forced the government to reduce the petrol tax by R1.50 due to the increase in oil prices
Economist, Mr. John Loss, said the increase in petrol will hit the low earners hard.
Loss said that when the price of petrol increases in 2022, the cost of transportation will increase and food will also increase. He said this was very sympathetic to those who earn less.
“Low-income people do not have the money to monitor the conditions caused by inflation. The money they earn is enough for their monthly expenses.”
Loss said it will also affect those who earn better.
“Because many people here in South Africa choose to use their own cars, the increase in petrol is very sensitive to many people.”