Fuel price expected to rise in May - AA
Automobile Association's Layton Beard says petroleum prices were largely flat in the first week of April but spiked sharply as tensions escalated in Syria.
CAPE TOWN - The price of fuel is expected to increase yet again in May on the back of a punishing increase in April.
That’s the prediction from Automobile Association (AA).
From May South Africans could be paying 41 cents more for a litre of petrol, and diesel could also go up by 48 cents per litre.
The AA's Layton Beard said: “The rand-US dollar exchange rate accounts for only around 4 cents of our predicted increase. The rest is due to increase in international petroleum price and that is as a result of geopolitical events throughout the world.”
Beard adds petroleum prices were largely flat in the first week of April but spiked sharply as tensions escalated in Syria. And, as always, the average person in the street and in the car will suffer.
Economist Dawie Roodt said: “The average consumer today is carrying heavy weight because of things like the high unemployment rate, economic growth and the recent increase in taxes and petrol price.”
(Edited by Zamangwane Shange)