The price of petrol might be dropping but other fuel increases will hit South Africans hard, cautions the AA

The AA says significant increases in the prices of diesel and illuminating paraffin will have a substantial impact on the cost of living. File photo.While the adjusted fuel prices for May show a decrease in the cost of both grades of petrol, the Automobile Association says the significant increases in the prices of diesel and illuminating paraffin will have a substantial impact on the cost of living.

According to the department the average international product prices of petrol decreased while those of diesel and illuminating paraffin increased, resulting in the sharp increases locally. The department notes these prices climbed “because there is still a shortage of diesel supply which is due to lower exports from Russia as major exporter of distillate fuel, low inventories globally as well as higher demand for distillates”.

The adjustments mean the cost of 95 ULP in Gauteng will be marginally cheaper in May than in April but still high at R21.84/l and R21.09/l at the coast . However, the cost of diesel is in record territory which will impact the economy as this is a major input cost in the manufacturing, road freight, agricultural and mining sectors and increases to these input costs will be passed on to consumers.

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