The price of petrol at the pump is set to rise by 74 cents a litre from 6 March.
The wholesale diesel price to rise by 91 cents a litre.
The Energy Department’s Robert Maake explains why prices are being increased.
“The main reason for this big increase is mainly the crude oil price. It was much higher during the current review period compared to the previous period. The Brent crude oil was around $34 per barrel while in the previous period it was around $16 per barrel.”
The Automobile Association’s Layton Beard says consumers will be hit hard in the coming months.
“The general fuel levy and the Road Accident Fund levy will be added to the fuel price in April. That is apart from what adjustment is made to the basic fuel price. And obviously, in June, there’s the addition of the carbon tax we have to wait and see on a day-to-day basis how those numbers pan out.”
This is the second consecutive increase in fuel price this year.