Petrol price set to rise again | Cartrack

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Petrol price set to rise again

6 June 2018

Already buckling under the pressure of a petrol price of more than R15 a litre, motorists will have to brace themselves for yet another imminent hike, with mid-month data suggesting that there will soon be a 29 cents increase a litre in both petrol and diesel.

This time around, the vulnerable Rand is largely to blame for this bad news owing to the fact that our currency has steadily weakened against the US dollar since the start of June. Coupled with the increased oil price, these factors have resulted in this pain that we are experiencing at the pumps.

There’s more bad news than simply what you’ll pay when filling up; the rising petrol price will also have a negative knock-on effect on the economy. Here’s a sample of some of the other goods and services that are likely to rise due to the petrol increase:

Food products
The price of our groceries is always strongly linked to the cost of transporting those goods to the supermarket. As such, one can expect to see an increase in our normal food items, especially staples such as bread, milk and fruits and vegetables.

Many clothing items are either shipped or flown in from overseas, and the higher fuel price will, therefore, affect the cost of these items.

Eating out
Much like groceries are expected to rise, it’s likely to be more expensive to eat out owing to the impact that higher fuel prices will have on the delivery of food and ingredients to restaurants.

The rising fuel price is going to make it that much more expensive to pack the car and scurry off to your favourite holiday destination at the coast.

Luxury items
Once again, as these items are often flown in from overseas, an additional markup will have to be added on to cover the increased price of obtaining these products.

General leisure activities
Most of your favourite leisure spots such as clubs and stadiums rely on the transport of goods for the entertainment they offer to you. They will now have to charge you more for your fun in order to cover the cost of the increased fuel price.

While the rising petrol price may be giving you headaches, you don’t have to stress about the safety of your car- simply get a tracking device from Cartrack. Contact us today to find out more.

If you happen to manage a large fleet, Cartrack can help you save fuel in your business with our fuel monitoring product.

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