Possible petrol price increase in April: economist

Possible fuel price increase in April: economist

Some economists are predicting the petrol price to increase by around 80 cents a litre next month.

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This as the fuel levy is definitely going up by 30-cents a litre next week after it was announced by Finance Minister, Pravin Gordhan during his Budget Speech last month.


With the international oil price on the up, and the rand under constant pressure, economist Dawie Roodt, warns this spells bad news for South African motorists.


"It's certainly not good news for the average consumer in South Africa because this is likely to add to the inflation and pressure in the economy and eventually lead to things like high interest rates. Expect an increase of 8-cents a litre," he said. 


Fellow market analyst, Mike Schussler shares this sentiment - saying the price hike will be by as much as 82 cents.


"All in all, it's going to add to our inflation rate. Today, we had a high inflation rate of 7% and I think by April we will sit with an inflation rate probably in line with 7.5% to 8% inflation," he said.  

(File photo)

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