AA repeats call for review of fuel price in wake of latest hike announcement

On Monday, the Mineral Resources and Energy Department announced that both grades of petrol will cost 53 cents more from Wednesday.

Picture: Eyewitness News.

JOHANNESBURG - The Automobile Association has once again called for the review of the fuel price following the recent fuel price hike announcement.

On Monday, the Mineral Resources and Energy Department announced that both grades of petrol will cost 53 cents more from Wednesday.

The price of diesel will increase by around 79 and 80 cents for the different grades and illuminating paraffin will also increase by R1.01.

Since the advent of the COVID-19 pandemic, many South Africans have been under immense financial strain and it does not look like any relief is in sight.

The fuel price hike comes after South African Reserve Bank Governor Lesetja Kganyago announced an increase of 25 basis points in the repo rate to 4% in January and precedes a looming Eskom tariff hike.

The AA’s Layton Beard said that there was clearly a need for a fuel price review.

"The petition to review the price of fuel is gaining momentum and close to 25,000 people have already signed the petition urging government to initiate a review of all the components of the fuel price as well as to conduct an audit of all existing elements to determine if they are still applicable and correct," Beard said.

The AA has called on Finance Minister Enoch Godongwana to announce a review in his budget later this month.