Come Wednesday 4 April and South African motorists will have to fork out extra loot for their petrol and diesel. The price of 95 unleaded goes up by 29 cents a litre to R10.25 a litre, the highest it’s been since August 2008. Broke-back consumers are already complaining about the high cost of fuel which filters down to the most basic goods like bread, tea and milk. This latest increase, the 8th consecutive, is in line with Brent crude oil prices which currently sit at US$125 a barrel.
The price of diesel, measured at wholesale because it’s unregulated by the government, goes up to R9.64 per litre.
Economists predictably predict that while domestic tourism will be negatively affected, it won’t be killed off by this latest increase. Some even reckon that plane tickets will go up by as much as 20% in the short-term. The taxi industry, which transports more people in Mzansi than anyone else, will needless to say, pass the buck on the commuters. Clever forecasters say by this time next year we’ll see an oil price tag of US$131 a barrel, translating to a pump price of around R11 a litre.
Expect those familiar long queues at the various forecourts tomorrow night as motorists pack up in the hope of filling up just before the price hikes.
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