The last thing we need right now is a petrol price hike. Fuel prices are set to rise for the third consecutive month of 2021, as oil continues to recover from the covid pandemic shock.
According to the Automobile Association (AA), motorists should expect another petrol price hike for March.
Fuel prices are set to increase:
- Petrol is going up by 56 cents per litre.
- Diesel is going up by 47 cents per litre.
- Paraffin is going up by 41 cents per litre.
Why are petrol prices increasing?
With the economies suffering globally throughout 2020 the demand for oil has increased. This has an impact on international fuel prices and as South Africa relies heavily on imports, this will influence the price at our pumps. Some experts predict that this momentum may continue into April 2021.
Top 3 Petrol saving tips:
1. Fill your tank in the morning
Fill your tank in the mornings to get an extra bang for your buck. As petrol cools down it becomes dense, when filling your tank in the morning the petrol has been cool for 8-9 hours. As fuel expands throughout the day you’ll end up with less fuel in your vehicle.
2. Drive smoothly
Driving aggressively like rapid acceleration, speeding, and hard braking can significantly lower your fuel mileage. To get the most out of your petrol tank, accelerate smoothly, brake softer and stay within the speed limits.
3. Drive at a higher gear
Although vehicles are designed to start acceleration at the lowest gear, driving at a higher gear increases fuel economy. Fuel consumption increases when you drive at lower gears for long periods of time. Driving slow at a higher gear will increase your fuel consumption.
So drive at your highest gear possible, and avoid driving at low gears for long.
With the current economy, it may be wise to take the necessary steps to save money wherever you can. Fill up your tank before the next fuel increase and save some money along the way. If you enjoyed this article subscribe to our weekly Newsletter for all the best financial tips.