Bolt has announced fare increases in South Africa as fuel prices soar, impacting both drivers and riders.
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Bolt has said it is adjusting fares this month in response to the steep fuel price hikes.
This comes after official petrol and diesel price increases took effect on Wednesday, with 95 Unleaded petrol rising by R3.06 per litre and 50ppm diesel up by R7.51 per litre, largely due to the ongoing war in the Middle East that has driven up international oil prices.
Responding to questions from IOL, Simo Kalajdzic, Senior Operations Manager at Bolt South Africa, confirmed the company will implement temporary fare adjustments to help drivers manage higher fuel costs.
"Bolt South Africa can confirm that it will implement fare adjustments in response to the anticipated fuel price increases taking effect in April 2026, as fuel remains a significant component of driver operating costs. These adjustments are expected to be temporary and responsive to market conditions, and will be reviewed regularly in line with fuel price movements," said.
"The approach is designed to ensure that driver earnings remain sustainable while maintaining the reliability of the platform. Should fuel prices stabilise or decrease, pricing will be adjusted accordingly".
He also added that the company "remains committed to balancing necessary fare adjustments with passenger affordability".
"While riders may see an increase in gross fares, the platform will continue to apply targeted discounts and platform-funded subsidies to keep the effective price competitive and within a familiar range for commuters".
He said that should "fuel prices continue to rise beyond April levels, Bolt will maintain its data-driven and flexible pricing approach, assessing the impact on trip costs and adjusting fares where required".
"At the same time, the company will continue to deploy rider incentives and driver support mechanisms to minimise the impact on both sides of the marketplace".
IOL also previously reported that South Africans will soon have to dig deeper into their pockets as SANTACO warns taxi fares may rise in response to soaring fuel costs.
SANTACO spokesperson Rebecca Phala, said the organisation was already contemplating increasing taxi fares to help operators cope with the rising costs.
"Yes, we are. The anticipated fuel price increases, coupled with concerns around supply constraints and early price adjustments at some petrol stations, are already placing significant pressure on the taxi industry. As a result, many taxi associations are being compelled to consider fare adjustments," Phala said.
IOL BUSINESS
mthobisi.nozulela@iol.co.za
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