Yet another massive increase for petrol and diesel
Motorists can expect one of the highest increases yet in the fuel price.
Ongoing increases in international petroleum prices will combine with a new increase in the fuel levy to result in a hefty fuel price hike for April, according to the Automobile Association (AA).
“Including the additional 30c a litre fuel levy, petrol is likely to see an increase of up to 83c a litre, with diesel up by around 95c a litre,” the AA says.
“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 adds that the fuel price is subject to considerable risk.
If oil prices continue to climb, South African motorists can expect substantial fuel price increases.
Any associated deterioration in the exchange rate will add more pressure.
“A combination of sustained oil strength and a ratings downgrade before year end would be very negative for motorists,” the AA concludes.
