Hefty fuel price hike for April
We can anticipate a huge increase in fuel prices for April, according to Automobile Association (AA).
An expensive month for April
When commenting on unaudited month-end data released by the Central Energy Fund (CEF) the AA suggested that ongoing increases in international petroleum prices will combine with a 30 cents-a-litre estimate.
“Including the additional 30 cents a litre fuel levy, petrol is likely to see an increase of up to 83 cents a litre, with diesel up around 95 cents a litre,” the AA commented.
Rand and oil prices to blame
“Although the Rand / US dollar exchange rate has firmed in the Rand’s favour over the past few weeks, the strengthening of international petroleum product rises has outstripped the Rand’s gains.”
The association said that the fuel price was subject to considerable risk.
This, along with the increase in food inflation due to the drought that hit South Africa recently, is going to see many South Africans filling up before the fuel price goes up.
Petrol prices explained
If you’d like to find out more about what affects the price of petrol in South Africa, take a look at this great infographic below for an easy breakdown:
Source: The Automobile Association (AA)