Tough month ahead as petrol price hike hits

The price of petrol is set to increase by 50 cents per litre as of Wednesday.

Picture: EWN.

JOHANNESBURG - Motorists are expected to flock to their nearest filling stations to fill their tank before the petrol price increase at midnight.

Last week the Energy Department announced the price of petrol will increase by 50 cents per litre from 4 January, while the price of diesel will jump by 39 cents a litre and illuminating paraffin by 43 cents a litre.

The price of liquid petroleum gas will rise by R1,6 per kilogram.

The department says although motorists have to pay more, the rand has appreciated against the US dollar during the period under review on average when compared to the previous period.

Director for economists.co.za Mike Schussler says motorists are going to have a tough month in January.

“The 50c a litre increase on the price of petrol will impact on the average motorist who will have to pay about R70 more in January for fuel.

"As we all know January is one of the toughest months of the year. Normally we get a bit of petrol price relief in January, but not this year.”

(Edited by Neo Koza)