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New fuel prices to leave motorists financially winded

Economists say the price per litre of petrol could rise by as much as R2 a litre.

FILE: The price of fuel is set to punch a bigger hole in consumers' pockets from next month. Picture: Michelle Lubbe/EWN.

CAPE TOWN - The price of fuel is set to punch a bigger hole in consumers' pockets from next month.

The Energy Department has warned the increase is likely to be significant.

Economists say the price per litre of petrol could rise by as much as R2,00

Higher fuel levies will kick in on 1 April adding about 80 cents to the cost per litre.

The department's Tseliso Maqubela says volatility in the price of a barrel of oil will load the fuel price further, but he tried to put a positive spin on it while briefing Members of Parliament on Tuesday.

"Even if we add the levy that has been decided through the budget process, we will still end up below the R14,30 per litre line that we experienced last year."