Petrol price set to rise

The price of petrol will rise in February, Efficient Group economist Dawie Roodt said on Tuesday.

“If you take figures from yesterday [Monday], petrol will go up in February by 46 cents per litre,” Roodt said.

“But that was yesterday and things may change—I think you can put the price rise at between 30 and 50 cents,” Roodt added.

The price of diesel, however, was not expected to rise.

“This is because of the actual demand for diesel falling sharply as it’s important for industry and industry has slowed down.”

The oil price at the end of 2009 would either remain at $40 per barrel or would be near $80 per barrel.

“If the world economy was in a normal situation at present, the price of oil would be close to $80 per barrel. If the US manages to kick-start the economy, oil will certainly be at $80 per barrel at the end of the year.”

However, if the economic situation stayed as it presently was, oil would still be around $40 per barrel at the end of the year, Roodt said.—Sapa

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