Petrol set to increase by 56 cents end of April

The Automobile Association (AA), has reported that motorists can expect a third petrol hike at the end of April since the start of the year. This is said to be due to the high international price of petrol. 

AA said that the current data suggest that petrol may increase by 56 cents a litre at the end of April, while diesel is showing a reduction of five cents and illuminating paraffin down by a cent.

“The international product price of diesel climbed somewhat in the first half of April, while petrol has made a substantial jump. Diesel’s smaller increase is likely due to variations in international refining capacity, as well as the approaching end of the northern hemisphere winter when demand for diesel fuels for use in peaking power plants and as a heating fuel diminishes,” said the Automobile Association in a press statement.

The AA also said that the rand has appreciated quite strongly against the US dollar since the end of March, with the daily exchange rate used for fuel price calculations rising from over R14.60 to the dollar on 31 March to under R14 currently.

The AA highlighted that the price stability in illuminating paraffin is welcome as South Africa heads into its own winter, during which many households will be using paraffin as heating fuel. But the rise in petrol is cause for concern when our economy is already in difficult waters.

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