Sunday, February 20, 2011

Petrol prices set to increase again

Lusanda Bill
20 February 2011

An increase in petrol price seems to be on the cards again.

The increases in prices, the increase in petrol prices and the weakened rand has contributed to the increasing inflation rate.

Tony Twine, a senior economist at Econometrix suggested that there would be a 37 percent increase in the petrol price on March 3rd.

Twine suggested that diesel prices were expected to rise by 61cents a litre and paraffin by 67cents a litre.

Nicky Weimer, a senior economist at Nedbank, said “fuel prices would continue to increase throughout the year and it was unlikely that oil prices would drop. The weakening of the rand also aggravated the situation and pushed prices up”.

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