Brace yourself. The price of petrol in South Africa is likely to go up by 80 cents a litre or more in March 2013 [insert your own swear word here]. This comes just a month after a 41c/l increase this month (Feb).
The rise in the international oil price and a weak Rand are responsible and if things stay the same then economists predict the price of SA petrol will go up by as much as 87c/litre.
Cue the following picture.
“If we look at the under-recovery where we are now on 87c for petrol, that means we’ll probably see around 87c increase in petrol if things stay the way that they are for the rest of the month,” said Krugel.
“Diesel will be around 60 to 65c. It is not looking good at all.” [fin24]
If an economist at KPMG says it’s not looking good then well…f**k.