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Page added on February 28, 2008

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South Africa: Highest Ever Petrol Hike Looms

Motorists are warned to brace themselves for another petrol hike next week, the highest increase South Africans have ever experienced.

It is expected that petrol will increase by 45 to 60 cents a litre and this will bring the price of unleaded petrol to about R8 a litre.
Economist Chris Hart told BuaNews on Wednesday that the petrol hike expected in April is due to the weak currency and the higher crude oil prices.

“Although we are anticipating stability in the middle of the year, but by the end of the year, petrol price will be higher than it is now, just above R8 a litre,” he said.

Mr Hart said he does not foresee any petrol price decrease in the near future.

The Department of Minerals and Energy said the increase is due to higher prices of crude oil.

According to economists, this would bring the petrol price to the highest peak ever.


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