The Automobile Association (AA) has announced its final fuel price prediction for April, with a slightly lower than originally predicted price hike.
Commenting in a statement on the final unaudited data released by the Central Energy Fund on Tuesday (30 March), the AA said it expects the price of petrol to rise R1 a litre instead of the previous predicted R1.16, diesel by 66 cents instead of 92 cents and illuminating paraffin by 37 cents.
Unlike petrol and diesel, diesel is exempt from the 27 cents rise in the General Fuel and Road Accident Fund levies announced by Finance Minister Tito Mboweni in his mid-term Budget Speech last month.
The AA added that the inclusion of the levies would result in a litre of petrol costing R17.32 at the Reef, the highest since the R17.08 recorded in 2018.
“The unfortunate reality is the expected hikes will still be substantial. The minor relief of the pullback in petroleum and the exchange rate will be cold comfort to South Africans suffering from the ongoing economic damage inflicted as a result of Covid-19, and a decade of economic decline,” the association said.
The increases will come into effect on 6 April.