By: Natasha Archary
Motorists should brace themselves as a whopping R3 a litre petrol increase is expected in June.
This may just be the biggest petrol hike to date, which will hit every South African in their already tight pockets.
According to the latest data by the Central Energy Fund, a current under-recovery or an increase in fuel is estimated at R1.81/l for 95 octane and R1.75/l for 93 octane.
Diesel increases are calculated at R1.93/l and the price of illuminating paraffin is roughly around R2.46/l.
This is all without the R1.50 general fuel levy which was reduced in April and May but will be in effect from June.
Based on this, the price of petrol in June is expected to hit a whopping R3 a litre record high and could actually be higher.
It is estimated that petrol, both 93 and 95 octane could cost between R3.25 and R3.31/litre, with diesel coming in anywhere between R3.43 and R3.46/litre.
Motorists will know the final price per litre of fuel on Tuesday, 31 May.
A weaker Rand and higher oil price are some of the factors that are responsible for the staggering cost of fuel.
The current price of fuel inland is as follows:
- 95 octane petrol – R21.84/litre
- 93 octane petrol – R21.51/litre
- 0.05% Diesel – R21.99/litre
- 0.005% Diesel – R22.16/litre
- Illuminating paraffin – R16.64/litre
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