Absa has temporarily increased the earn cap for fuel spend on its Absa Rewards programme until the end of May as fuel prices skyrocket following the start of the Iran war.
At the start of April, the price of 93 and 95 octane petrol increased by R3.06, while diesel went up by between R7.37 and R7.51 a litre. The increases wouldve been steeper had National Treasury not temporarily reduced the fuel levy by R3 a litre for the month.
With petrol prices above R23 inland R22 at the coast and diesel above R26 R25 at the coast, bank rewards programmes that typically offer a certain amount back per litre are suddenly a lot less rewarding.
