South Africans can expect a hefty increase in the cost of fuel come December when the price of petrol can be expected to rise as much as 70c a litre and diesel 60c, according to independent economist Dawie Roodt.
Roodt believes that instability in South Africa will keep the rand volatile and that crude oil prices will continue to increase as the value of the currency inevitably decreases.
Les Holbrook, Border-Kei Chamber of Business director, said that consumers are “overcharged and overtaxed” for fuel. He believes prices could be cut by as much as R2.50-R3 a litre with the removal of government taxes and levies.
Holbrook recommends drivers of diesel vehicles shop around instead of filling up at the nearest petrol station as prices can vary by as much as 80c per litre due to diesel being unregulated.