Ya hey. The Rand may have strengthened and inflation may have eased, but that probably won’t stop the department of energy from increasing the price of petrol in South Africa by more than 40 cents next month. Analysts have crunched the numbers and there is an under-recovery of around 43 cents which means and increase around that mark is expected.
On the brights side though the stronger ront and stable global crude oil price has resulted in the price increase not being more.
“Around the middle of the month the average under-recovery had been running at 51 cents a litre and rising, thanks to the daily figure hovering around the 70 cent mark in the preceding days. Thankfully, the deficit has been shrinking since then (it was only 21 cents on September 27), helping to erode the average for the month to 43 cents.” [iol]
Now you know.