Fuel prices set for massive hike

June 01, 2018

Thahir Asmal, Radio Islam News – 01-06-2018

Motorists can expect another hefty petrol price hike from next week

Petrol is expected to rise by up to 85 cents a litre, diesel by 87 cents, and illuminating paraffin by 82 cents next week.

The Automobile Association (AA) says the big jumps are due to stronger international oil prices and a deficit carried over from April.

The AA was commenting on unaudited month-end fuel data released by the Central Energy Fund (CEF).

“The Department of Energy’s monthly close-out happened early due to the public holidays in April, after which the Rand lost almost 60 cents against the US dollar in a matter of a day. This meant a substantial fuel price rice was a near certainty from the start of May.”

A litre of petrol is now expected to be R15.82, with diesel forecasted at R14.02.

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