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.”