After the latest fuel price hike, which took effect at midnight on Tuesday, 1 February, motorists will have to dig deeper into their pockets starting today, Wednesday, 2 February.
The Central Energy Fund (CEF) said that the retail price of gasoline (93) will increase by 53 cents per litre, while 95 will increase by the same amount.
Furthermore, the wholesale price of diesel (0.05 percent sulphur) increased by 80 cents, while the 0.005 percent increased by 79 cents.
Finally, the wholesale cost of illuminating paraffin increased by R1.01 per kilogram.
In plain English that means it will be a LOT more expensive the next time you visit your nearest petrol station – and perhaps time to get out the bicycle and walking shoes.
Inland and coastal fuel prices differ
The new Inland price of petrol unleaded 95 is R20.14 per litre.
If you live in Gauteng and own a BMW X3 with a fuel tank capacity of 60 litres, as of this morning it will cost you R1 208.40 to fill up with unleaded 95.
Prior to the latest price hike, it would’ve cost R1 176.60.
That’s an extra outlay of R31.80.
If you were to fill the same car up with diesel 0.005% (R18.07) today, it would set you back R1 084.20.
At the ‘old’ price of R17.28 you would’ve paid R1 036.80, making it R47.40 more expensive after the latest price hike.
Share on Facebook «||»
Share on Twitter «||»
Share on Reddit «||»
Share on LinkedIn
Read Related News On TDPel Media
Advertisement
Startup Comes with a Solution for a Hike in Petrol-Diesel Price in a Market: The sudden hike in petrol-diesel price made everyone unbalance their daily lifestyle while seeing these unsolved problems a startup comes with a new app FYOOL...
Kano Residents Initiate Warm-Up Protest against Petrol Price Hike: On Tuesday, residents of Kano State began what they referred to as a warm-up protest in response to the recent hike in petrol prices. Advertisement...
Nigerians Alerted to Impending Petrol Price Hike Amid Forex Crisis: Nigerians are being informed to prepare themselves for a forthcoming adjustment in the pricing of Premium Motor Spirit, commonly known as petrol. Advertisement The rationale...
Andile Mpisane purchases new cars – BMW M4 Coupe and BMW M3 Competition: Andile Mpisane took to social media to drop a hint of his new wheels, a BMW M4 Coupe and a BMW M3 Competition valued at...
Petrol Landing Cost Soars to N720/Litre, Reflecting Exchange Rate Volatility: Petrol Landing Cost Hits N720/Litre A well-known marketer in Nigeria has revealed that the landing cost of Premium Motor Spirit (PMS), commonly known as petrol,...
Reno Omokri Slams Critics of Fuel Price Hike, Urges Understanding of Consequences: …By Dorcas Funmi for TDPel Media. Former presidential aide Reno Omokri has expressed his disapproval of individuals who complain about the increase in fuel prices...
Adamawa Lawmaker Ditches Car for Bicycle Amid Fuel Price Hike, Stands in Solidarity with Masses: …By Dorcas Funmi for TDPel Media. Amid the public outcry over the recent increase in fuel prices, Chief Whip of Adamawa State House of Assembly,...
Nigeria Labour Congress Calls for Nationwide Strike Over Fuel Price Hike: …By Larry John for TDPel Media. The Nigeria Labour Congress (NLC) has declared its intention to initiate a nationwide strike beginning on Wednesday, June 7,...
Price Hike for IELTS Exams in Nigeria Starting September 2023: Introduction: Increased Costs for IELTS Exams Starting from September 2023, the British Council has announced a significant price increase for the International English Language Testing...
Ekpo wades into cooking gas supply, price hike challenges: By Emmanuella Anokam The Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, has waded into the challenges of constant price increment of Liquefied...