Saturday, November 27, 2010

Petrol price to increase again before the end of the year

Lusanda Bill
27 November 2010

Another petrol hike will happen before the end of this year, motorists are asked to brace themselves.

All grades of petrol will go up by 13 cents per litre from Wednesday.

Diesel will increase by between 14 and 15 cents per litre and the wholesale price of paraffin will go up by 14 cents per litre.

Economist Elna Moolman said “We would expect petrol prices to remain relatively steady around these levels partly because we do not see any fundamental reason for the oil price to increase further and also we believe the rand will remain reasonably stable around these levels for quite some time”.

Economists have stated that after the petrol hike this week, then it should stabilise.

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