Expect major petrol price hike on Wednesday - AA

125 days ago

More fuel price hikes are ahead - the AA predicts petrol will go up by about R1.73 a litre, diesel by R1.74 and illuminating paraffin by R2.14 on Wednesday (1 July).

The association attributes this to the spike in oil prices over the last month, while the rand has not yet recovered to pre-Covid levels.

We cannot overstate the effect that the rand's collapse is currently having on fuel users: if the rand had remained at its pre-Covid-19 levels, fuel users would likely be seeing a reduction in fuel prices in the order of 75 cents a litre next month.

Automobile Association

Motorists bemoaned the timing of the record fuel price drops in April and May, when lockdown restrictions meant they could not take advantage of the lower prices.

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This was followed by a fuel price increase in June, just when relaxed regulations saw more people back on the road.

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The inland price of 95 unleaded petrol increased from R12.22 to R13.40 a litre at the beginning of June. The latest increase predicted by the AA will see it jump to R15.13 on 1 July.

The inland wholesale price of diesel is set to rise from R11.40 to R13.14 a litre.

This article first appeared on CapeTalk : Expect major petrol price hike on Wednesday - AA



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