The forecast for the month ahead is a beast, as the petrol price is set for second consecutive major increase in April.
They’ve got us by the gas pumps, here. Data released by the Central Energy Fund (CEF) this week suggests that the petrol price increase for April 2019 could hit South Africa with tremendous force.
It comes off the back of a sharp increase for March, which saw petrol costs soar by 74 cents per litre. However, that amount looks tame in comparison, as current predictions are now compounded by the increase in fuel tax.
Fuel costs on the rise once more
The CEF predict that the cost for both grades of petrol (93 and 95) will rise by R1.03 and R1.05 per litre respectively. From April 1, an additional 29 cents will be added onto the fuel levy, meaning that those increases will actually be nearer the R1.30 – R1.35p/l mark.
Meanwhile, there’s no respite for diesel users either. They will be facing a mark-up of 59 cents per litre next month
As well as the tax rates increasing, a weakening rand and a higher crude oil price have given Mzansi’s motorists a double whammy to contend with. Here’s what your petrol price for April will look like, based on current data:
Expected petrol price for April 2019 in South Africa:
(All prices based on rand-per-litre)
Petrol: R15.53 – R15.58.
Petrol: R15.92 – 15.97.
Petrol price records in SA
Motorists in Gauteng could soon be paying almost R16 a litre again after a friendly festive season brought petrol prices into the R13 – R14 range. However, that spirit of goodwill didn’t make it past the summer months.
R1.35 is a mammoth rise, but it isn’t the biggest ever experienced in SA. During 2015, there was a record R1.60 added on to the per-litre price of petrol. Last year saw the biggest ever petrol price recorded in this country, when the cost of filling up reached R17.08p/l in Gauteng.
With toll fees and Eskom’s energy tariffs also set to rise in the near future, the cost of living is creeping towards the territory of “exorbitant”. South Africa still has to survive a credit ratings decision from Moody’s on Friday: A negative outcome there could weaken the rand even further and potentially impact the final petrol price for April.
By: South African
This report does not necessarily reflects the opinion of SA-news.