Motorists are in for another shock on April 7 when the petrol price is expected to rise by over 20 cents a litre, a trend that should continue for some time still.
Motorists are in for another shock on April 7 when the petrol price is expected to rise by over 20 cents a litre, a trend that should continue for some time still.
Statistics from the department of minerals and energy show that the under-recovery of fuel prices between February 26 and March 17 was R3,98.
If this remains the same until March 25 then the petrol price will increase by 4c a litre. Add to this the tax of 10c a litre, the increased levy for the road accident fund (5c) and the 1c to fill the cumulative balance account, then the hike could equal 20c.
More bad news is that oil prices have been trading near highs last seen 13 years ago as the Opec countries are threatening production cuts. Economists have warned that the full effect of the current high oil prices still have to filter through to South Africa.
