Cape Town – South African consumers are set to face another steep fuel price increase next week, experts have reportedly warned.
According to IOL, the AA has warned that consumers could expect an increase of about R2 for the prices of petrol and diesel.
Current data from the Central Energy Fund showed the country was facing an under-recovery/hike of R1.84/litre for 95 petrol and R1.63/litre for 93 petrol. Diesel faced an under-recovery of around R1.63/litre for both grades.
However, this did not account for the government’s fuel price interventions, which were set to drop by 75 cents in July, and would see the country facing a R2.30-R2.50/litre increase for petrol, Business Tech reported.
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Meanwhile, Civil society Outa has called for the R1.50 petrol tax relief to be extended, the report said.
On June 1, the price of petrol went up by between R2.33 and R2.43 a litre, while the price of diesel increased by between R1.07 and R1.10.
The National Treasury took a decision to extend the R1.50 fuel levy for an additional two months, until August 3.
Without an extension of the cut, petrol prices would have been hiked by almost R4.00, pushing the prices to above R25.00 per litre, Fin24 reported.
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