Motorist hit by another petrol price hike in May
29 April 2019| 23 Shabaan 1440| EWN News
The Energy Department has announced a petrol price hike of 54 cents per litre for all grades of petrol next month.
Diesel will go up by 1c per litre and illuminating paraffin will increase by 3c per litre.
In March, the petrol price increased by up to a whopping R1.34.
The department says there were a number of international factors affecting the prices.
South African road users have been asked to brace for more tough times at the pumps.
Economist Dawie Roodt says petrol price hikes could persist if the international oil prices continue to rise.
“The international oil price is on the rise at the moment and it’s likely that the oil price will continue on an upward trajectory. Recently we’ve seen the rand weakening as well and it will be interesting to see if the rand weakens further during elections.”
The Automobile Association warned that the price hike is likely to have a ripple effect on most consumer goods, adding more pressure on already financially-strained South Africans.
“When you look at the increases we’ve had over the past couple of months, it’s another blow to consumers, not just motorists as other prices are likely to increase. It is a shock and I think it is certainly going to be difficult for many consumers to balance their budgets,” said the AA’s Layton Beard.