If you want to fill up your tank before the petrol price increase, we suggest you do it by midnight tonight, before the increase goes into effect.
Last week, department of energy announced that the price of petrol for both 93 and 95, would increase by 82 cents a litre.
Diesel will increase by about 86 cents a litre and the price of illuminating paraffin will increase by 82 cents a litre.
In total you will be paying:
- 79 a litre for 95
- 54 a litre for 93 and
- 19 a litre for diesel
After you filled up your tank, you should consider making some major adjustments to your budget.
It is suggested that, given the past international prices increases of crude oil, the price of petrol may reach R17 a litre.
Although no price increase is good news, you might feel better knowing that if you currently spend R500 on petrol a month, you’ll pay R30 more. If you spend R1000, you’ll pay R60 more. Basically, you will be paying about 5.5% more, so don’t let them rip you off at the petrol pump.
The not-so-great news however is that businesses tend to use the petrol price as an excuse to increase everything from taxi fares to bread by much more than the petrol price increase.
If this happens, remember, you don’t need expensive ice-cream and you can buy your bread at Shoprite instead of Woolworths. Yes, Woolworths has some nice foods, but bread at Woolworths tastes the same as the bread at Shoprite.
Most importantly, you should remember that a bank loan is not your money. It is somebody else’s money that you will start to pay back in the next month, which leaves you with even less money going forward. Don’t take out a loan if you don’t need to. A flat screen television set is not a necessity.
Now, go fill up your tank and afterwards, whip out your budgeting spreadsheet. You don’t want to face these increases unprepared.