Fuel price rollercoaster continues to impact South African households

WHILE consumers in South Africa who are paying back loans were given some financial relief after the South African Reserve Bank (SARB) cut interest rates, fuel price adjustments for August brings a mixed bag.

- ASHLEY LECHMAN

This past week, the Minister of Mineral and Petroleum Resources announced that from Wednesday, August 6, both grades of petrol decreased by 28 cents, while diesel went up by between 63 cents (50ppm) and 65 cents (500ppm).

That means petrol 95 Unleaded will now cost R20.80 at the coast and R21.59 in Gauteng, where the slightly less expensive 93 ULP will retail for R21.51.

The wholesale price of 50ppm diesel will reach R19.28 at the coast and R20.04 inland.

While the decrease in the price of petrol has been welcomed by some motorists, Neil Roets, CEO of Debt Rescue, said that the broader economic outlook for South Africans remains bleak.

“This fuel price rollercoaster is not easing pressure, it’s compounding it. Households are already under extreme strain, and these erratic fluctuations only add to the financial distress,” he told Business Report.

Roets added that the relief felt by petrol users is offset by the sharp diesel price hike of up to 65 cents per litre, which will affect key sectors such as agriculture, logistics, and public transport.