Things are looking unbelievably bleak for SA motorists as June is set to usher in a petrol price hike of horrific proportions.
It's an economic perfect storm: thanks to government's suspension on the general fuel levy coming to an end — an automatic increase of R1.50 per litre — mixed with a bullish dollar, floundering rand and surging international crude oil prices, South Africans could see the price of petrol rise by up to R3.50 a litre come month end.
“Based on information, about two days ago the petrol price would have increased by nearly R2 a litre in any event,” economist Dawie Roodt told news site EWN on Monday.
“We are talking about R2 plus R1.50, bringing it to R3.50. That is the increase likely to be seen per litre in June.”
Brace yourself for a massive petrol price increase in June
Image: jarun/123rf
Things are looking unbelievably bleak for SA motorists as June is set to usher in a petrol price hike of horrific proportions.
It's an economic perfect storm: thanks to government's suspension on the general fuel levy coming to an end — an automatic increase of R1.50 per litre — mixed with a bullish dollar, floundering rand and surging international crude oil prices, South Africans could see the price of petrol rise by up to R3.50 a litre come month end.
“Based on information, about two days ago the petrol price would have increased by nearly R2 a litre in any event,” economist Dawie Roodt told news site EWN on Monday.
“We are talking about R2 plus R1.50, bringing it to R3.50. That is the increase likely to be seen per litre in June.”
This means the country’s already cash-strapped motorists could be coughing up in the region of R25,50 a litre depending on the grade and region (coastal versus inland).
The price of petrol might be dropping but other fuel increases will hit South Africans hard, cautions the AA
Fuel prices to increase on Wednesday — here's what motorists have to say
April brings more fuel price hikes — but it could have been a lot worse
Reduced fuel levy to be funded by sale of strategic crude oil reserves, says finance minister Enoch Godongwana
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