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A full tank on a 55-litre VW Polo will cost you over R32 more with latest fuel hike

Durban – Motorists are bracing for another petrol hike, set to kick in from Wednesday.

The Department of Mineral Resources and Energy (DMRE) announced that while diesel prices will decrease, those driving petrol-powered vehicles will have to fork out 59c more per litre for both 93 and 95 octane fuel.

This means a full tank on a 55-litre VW Polo, will cost motorists R32.45 more per refill from Wednesday.

The price of illuminating paraffin will decrease by 57c.

The Automobile Association said the decrease in diesel and paraffin prices is encouraging.

“Diesel is a major input cost in many sectors and the decrease to this fuel cost is positive for all consumers.

“While positive, the suggested retail price of diesel in December will still be around R6.20/l more expensive than it was in January, which will have resulted in higher prices to goods and services during 2022,” the AA said.

The AA added that the Rand’s positive movement is certainly aiding consumers without which the outlook may have been gloomier.

“Going forward, though, we will continue to call for a re-evaluation of the fuel pricing structure to provide more longer lasting solutions to mitigate against rising fuel costs,” it said.

A review of the fuel price must examine all the components that comprise a litre of fuel, establish their continued relevance as part of the fuel price, and determine if the calculations used are still correct.

“As we have said before, we believe such a review is long overdue and the longer government delays in getting this started, the longer it will take to find sustainable solutions,” the association said in a statement.

Meanwhile, the DMRE said the average international product prices for petrol, diesel and illuminating paraffin increased during the period between October 28 and December 1.

“The Rand appreciated against the US dollar during the period under review, on average, when compared to the previous period,“ the DMRE explained in a statement.