Petrol could rise to record level

The petrol price could rise to a record high in June, possibly by as much as 55 cents a litre. Econometrix economist Tony Twine says judging by this week's commodity boom, it is estimated that the petrol price could rise by between 30 and 35 cents a litre next month. A further increase of between 15 to 20 cents a litre can be expected in June if crude oil stays at 72-dollars a barrel or more and the exchange rate remains close to six rands to the US dollar. The retail price of petrol shot up by between 21 and 24 cents per litre this month.