The petrol price is expected to rise high again in June for up to 85 cents a litre and a diesel by 87 cents, this was predicted by the Automobile Association.
This will likely push the cost of petrol towards R16 per litre, but analysts claim that it is not that bad. The oil prices will ease up in the long term when production has been ramped up by major producers in Saudi Arabia, US and Russia.
The Automobile Association expects a tough time for consumers, after the decision by the Reserve Bank last week to keep rates on hold. The Bank went further, indicating that any move would, in fact, be upwards rather than a cut.
Written by: Asavela Fekema
Communications Intern
Border-Kei Chamber of Business
