UPDATE: the Department of Energy announced today (Friday 27 March) that petrol will go up R1.62 a litre next Wednesday. Not quite as much as the expected R2, but still…it’s kak.
Yes you read that correctly…petrol in South Africa may go up by as much as R2 a litre in April, the single largest price jump in history. This comes right after a 96c/l price rise in March which effectively means a R3 rise in the price in the space of two months…pretty much cancelling out all those times we rejoiced because the price dropped in December, January and February. Economists expect a price increase of around R1.70 per litre in April which would put the price at around R13 per litre.
And just like that we back to this.
Sigh…shoulda known it was too good to be true.
“A combined 98c/l average under recovery in conjunction with the 80.5c/l hike in the fuel and road accident fund levies, which will take effect in April, suggest that the price of 95 Reef petrol could increase by as much as R1.79c/l next month to R13.06/l.” [Fin24]
Blah blah blah all that technical jargon is basically translated as we’re getting screwed.