South African motorists have been warned to brace themselves for another increase in the petrol price in March. Fuel went up by 26 cents a litre on Wednesday, while diesel went up by 30 cents a litre.
Over the past week, the rand has weakened considerably and the price of Brent crude has risen due to the unrest in Egypt. These two factors are contributing to the increasing fuel costs.
Economist Mike Schussler said, "The petrol price is very likely to move up around 35 cents a litre next month or even more, depending on how this Egyptian prices plays out. The diesel price may go up in fact by 60 cents a litre.