Shock looms for South Africans at fuel pumps next month
The Automobile Association (AA) says South African motorists are in for another fuel price shock in April.
Based on current data the price of fuel is expected to increase by more than R2 a litre.
Spokesperson Layton Beard says that consumers can expect to pay R2.15 a litre more for 95 octane petrol, 93 octane is expected to climb by R2.07 a litre, diesel by between R2.94 and R3.08 and illuminating paraffin by R2.51 a litre.
Beard adds that if this petrol price increase is realised, then it would be the biggest in South Africa’s history.
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“It will undoubtedly have major ramifications for all consumers and the economy in general. We must note, though, that this is the mid-month outlook, and oil prices are, for the moment, see-sawing significantly so there may yet be some relief before the official adjustment by the Department of Mineral Resources and Energy is made going into April.”
The Ukraine-Russia conflict has been attributed as the main driver behind the record fuel prices.
Last week, the price of Brent Crude oil traded at $140 a barrel - the highest it has ever been.
