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Petrol price at record high

Motorists are now paying a record R14,39 for a litre of petrol following the midnight price increase.

Motorists are now paying a record R14,39 for a litre of petrol.Picture: AFP.

JOHANNESBURG - Motorists are now paying a record R14,39 for a litre of petrol after the price increased by seven cents a litre at midnight,making the petrol price reach a new all-time record high.

But diesel went down by eight cents per litre.

Economists have predicted that the fuel price will stabilise over the next few months following months of price hikes.

Economist Mike Schüssler said there will be some good news in coming months.

"It seems the rand has strengthened and oil prices typically at this time of the year do tend to stabilise and come down a bit because of the Northern Hemisphere summer. We will probably get three months of price decreases."

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