“This increase is equal to an average increase of 13% year-on-year. Considering the average CPI over the same period was 5,25%, effectively fuel increases have surpassed the CPI index by a staggering 247%,” said the company on its website.
Analysts predicted increases in the petrol and diesel price of 48c/l and 54c/l respectively for the first two quarters of 2014, which will push fuel prices through the R15/l mark, and that it could be as much as R15,50/l by the end of the year.
The average fuel consumer used around 5 000l of fuel per year, which at the start of 2013 amounted to a total annual cost of R59 300. By the end of December last year the same calculation amounted to R67 750.