The price of petrol is set to go up by about 20 cents per litre (c/l) next month, taking the price to new record levels, according to Econometrix senior economist Tony Twine.
This would mean that the total increase in the price of petrol for May and June is likely to be in the order of around 59c/l.
However, Twine says the increase is not likely to be as much as initially feared. He says retreating oil prices and the steady rand at firmer levels have helped to limit the impact of a huge under-recovery on petrol. The average under-recovery on petrol is just under 35c a litre. For diesel is at 31c and paraffin 36c a litre. – I-Net Bridge