Govt can’t control fuel price hikes: economists

Govt can’t control fuel price hikes: economists

Economists have reacted to the latest fuel price predictions for this month.

Petrol pump prices
Erik Mclean/AFP

According to the Automobile Association's calculations, a litre of petrol could cost between 64 and 66 cents more from Wednesday. 

 

Diesel looks set to go up by around 63 cents a litre and Illuminating paraffin by 47 cents a litre. 

 

Economist Professor Bonke Dumisa spoke to Newswatch from the Africa Mining Indaba in Cape Town.

 

He said the South African government has no control over these increases.

 

"This is all the product of both rising international crude oil prices and a slightly weaker rand." 

 

The Efficient Group's chief economist Dawie Roodt said consumers can expect more price hikes in the coming months.

 

"The minister of finance is likely to increase the fuel levy in two weeks when he delivers his annual budget, and that, of course, will result in an increase in the petrol price." 

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