More petrol price woes for consumers in May

No relief for motorists in sight for May as the petrol price is expected to rise again

According to Solidarity Senior Researcher Paul Joubert, if the status quo remains unchanged until the end of the month, motorists are in for around a 20 cents per litre hike in the price of both grades of petrol, while the price of diesel is expected to rise by 5 cents per litre.

“During April so far, the rand has on average been a bit stronger, at about R14,90 against the dollar, than in March (R15,45), but the international bulk refinery-gate price of petrol has been significantly higher on average so far in April, while the international bulk price for diesel has been slightly higher,” Joubert was quoted saying in a Business Tech report.

“This significantly higher international bulk price for petrol has so far outweighed the benefit from the stronger rand, while for diesel the stronger rand just outweighs the higher bulk prices at the moment.”

Motorists have been experiencing pain at the pumps in recent weeks, with the double whammy of the normal petrol price increase coupled with the fuel levy that pushed the price of petrol up by 88 cents per litre at the beginning of April. Joubert notes that should the fuel price increase by 20 cents as expected, the rate will still be slightly lower than it was at the same time last year.

The wholesale price of diesel would be R10,49, around 6,2% lower than it was in the same period in 2015.

But, with less than two weeks until the end of the month, Joubert warned that much could change over the course of the next few days due to the volatility of the markets.

Here are some handy tips from the Automobile Association of SA for saving petrol:

  • Check your tyre pressure
  • Service your car regularly
  • Use high-quality fuels
  • Reduce your drag
  • Turn off your air-con
  • Lighten your load
  • Avoid stop-start driving
  • Change down a gear
  • Avoid excessive idling

Source: destinyman

Author: MC World

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