By Bhekithemba Ndebele
Tough times ahead as the motorist should expect another big blow to their pockets with the fuel price expected to increase by the end of may.
South Africa is facing economic challenge with high interest rates and struggling rand in the global market. Another increase means more tough times ahead as the motorists will have to dig deeper into their pockets.
Petrol prices are expected to increase by 39 cents per litre. The stronger oil said to be adding up to 29 cents of the rise and the weaker rand contributing 16 cents in the increase.
Automobile Association (AA) spokesperson Layton Beard said that the increase of the petrol ” is the view of the Automobile Association that was commenting on the unaudited mid-month fuel price data that was released by the Central Energy Fund (CEF).”
“Motorists have been fortunate in 2016 so far, with lower oil prices buffering the country from the weaker rand. However, oil has now strengthened while the rand continues to decline with both contributing to the under recovery picture.” he added