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Business Report writes that economists have warned motorists to start filling up their tanks as a steep petrol price increase is on the cards from this Wednesday (5 February).
This would mark the fourth consecutive increase in petrol. According to economist Dawie Roodt, motorists should be prepared for an increase of around 80 cents to R1 a litre. “It’s unfortunate news that we are facing another fuel price increase. The weaker Rand and higher oil prices are the main contributors to the expected petrol price increase. The Rand has been gaining a little and the oil price is a little lower, but because of the overall period, we still have an increase in the petrol price,” Roodt explained. He added that it was difficult to say what will happen to the fuel price in the next few months. Waldo Krugell, an economics professor at North-West University, said motorists were looking at increases in the petrol price of between 80 cents and 90 cents for petrol and between R1.03 and R1.08 for diesel. Professor Irrshad Kaseeram, from the University of Zululand's economics department, said that fuel prices were expected to rise quite substantially.
- Read the full original of the report in the above regard by Yogashen Pillay at Business Report
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