Hefty petrol price hike expected in April

Motorists should prepare for a petrol price increase of between 70c/l and 80c/l in April, the Institute of Race Relations (IRR) said on Wednesday.

IRR chief economist, Ian Cruickshanks, warned that if the rand and oil prices remain at their current levels, the fuel price could increase by 41c/l in April. That would be in addition to the 30c/l increase in the fuel levy that also takes effect in April.

“(This) could see motorists paying between 70c/l and 80c/l more for fuel,” he said.

Last week, the Automobile Association (AA) predicted an increase of between 31c/l and 35c/l in addition to the 30c/l fuel levy increase. That gives you a best case scenario of a R61c/l increase in the petrol price.