Friday, April 29, 2011

Fuel price hikes not over yet

By Khanyisa Tabata
29 April 2011

Economist Mike Schüssler says fuel prices in South Africa will continue to rise, as long as the political unrest in North Africa and the Middle East drags on.

The Energy Department yesterday announced petrol would go up by 29-cents a litre from Wednesday, while the diesel price will rise by 19-cents.

Schüssler says consumers can expect to see further increases in the coming months.

Meanwhile Kruger International economist, Ulrich Joubert says the fuel price outlook is not however all “doom and gloom”.

He says the current strength of the Rand, along with other factors, will help keep any further increases in the coming months at a respectable level.

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