Brace yourself for a huge petrol price hike

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FUEL prices may increase as much as R2 a litre at the beginning of April.

This is the Automobile Association’s (AA) warning after the Central Energy Fund’s preliminary mid-month data showed that South African motorists are set to be battered by high international petroleum prices and the Rand’s continuing decline against the US dollar.

The Rand has lost nearly ten percent of its value against the dollar since late February, oil prices are far off their lows of January and petrol is showing an increase of up to 98 cents a litre, diesel around 63 cents and illuminating paraffin 42 cents.

This is over and above the Minister of Finance Nhlanhla Nene’s new fuel levies which will add an additional 80c per litre from April.