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How the Petrol Price Increase Could Impact Your Wallet

by | Dec 6, 2022 | Personal Finance

Central Energy Fund (CEF) estimates indicate increased petrol prices for motorists in December according to their latest weekly report. The weekly CEF report shows that petroleum prices are under-recovering by an average of R1.20 per litre for December, thus raising the potential for an increase. With petrol prices increasing over the holidays, it’s important to understand why this occurs and how you can save money while still enjoying your festive season. Let’s break down what is happening with petrol prices and how you can save on fuel costs this season.

 

What Does It Mean For Your Wallet?

Unfortunately, these increases can have a substantial impact on households all around South Africa. The average household would usually spend much more on petrol per month, but with increased costs, that figure is likely to rise even further—especially for those who have to commute each day or travel regularly for work or leisure activities. Furthermore, higher fuel costs are likely to be reflected in other aspects of daily life too — from food items transported using diesel-powered trucks to retail products delivered via petrol-powered vehicles and more — so households should anticipate their overall cost of living increasing as well.

 

How Can You Save Money On Fuel?

There are a few steps you can take to save money on fuel during the holiday season. First, plan your trips ahead of time so that you can combine multiple errands into one trip whenever possible. This will help reduce the amount of petrol you need and decrease your overall cost. Additionally, be sure to check online for any discount offers from petrol stations in your area – some may offer discounts for using certain payment methods or spending over a certain amount of money at their station! Finally, make sure that your car is running optimally by getting regular tune-ups and replacing any worn out parts; this will help maximize your car’s efficiency and reduce your overall fuel costs even when prices are high. 

The holiday season is an exciting time of year, but it can also be expensive if you’re not careful with your spending – especially when it comes to petrol! By understanding why petrol prices increase over the holidays and taking steps such as planning ahead and looking out for discounts, you can save money while still enjoying all the festivities this season has to offer. Happy Holidays!

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