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Yet another petrol increase expected for May

The AA has released a report stating that while diesel and illuminating paraffin are heading for reduced prices, petrol is set to climb for May. This after the appreciation of the Rand against the US dollar has gone some way to offset this, suggested the Association. Also read; Petrol prices explained “We are seeing a gradual, […]

The AA has released a report stating that while diesel and illuminating paraffin are heading for reduced prices, petrol is set to climb for May.

This after the appreciation of the Rand against the US dollar has gone some way to offset this, suggested the Association.

Also read; Petrol prices explained

“We are seeing a gradual, but sustained return of strength to petroleum prices,” the AA said.

Rising international oil prices continue to do battle with gains in Rand/US dollar exchange rate, according to the AA, which was commenting on unaudited mid-month data released by the Central Energy Fund (CEF).

How much can we expect to pay in May?

Current data predicts a petrol price hike of between 17 and 18 cents a litre while diesel and illuminating paraffin are set to drop by 11 to 12 cents.

“Both the exchange rate and international oil prices continue to be volatile, and the month-end picture could be quite different from the current one,” the AA concluded.

Source: Automobile Association of South Africa

 

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