Brace yourself for a huge petrol price increase in June
South Africans could see the price of petrol rise by up to R3.50 a litre come month end
Things are looking unbelievably bleak for SA motorists as June is set to usher in a petrol price hike of huge proportions.
It’s an economic perfect storm: thanks to government’s suspension of the general fuel levy coming to an end — an automatic increase of R1.50 per litre. Add to this a bullish dollar, floundering rand and surging international crude oil prices, and 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.
Would you like to comment on this article or view other readers' comments?
Register (it’s quick and free) or sign in now.
Please read our Comment Policy before commenting.