Petrol price could spike by 90c

2013-06-28 08:19

Consumers can expect a petrol price hike of close to 90c per litre.

This according to a quick survey done by Fin24 in anticipation of an announcement in this regard by the Central Energy Fund today. Any price increase will take effect at midnight next Tuesday.

Peter Noke, group retail specialist for Royale Energy, expects the hike to be announced by the department of minerals and energy will be about 87c per litre for petrol and about 80c per litre for diesel.

“It is only my guess, but I think it is going to be pretty close to that,” he said.

“The impact on everything in the value chain – from manufacturing to delivery – will be huge. The domino effect of one of the biggest petrol price hikes on consumers’ lives will be horrible.”

The rand/dollar exchange rate is the biggest culprit in his opinion.

Mike Schüssler, an economist at, expects a petrol price hike of around 90c per litre.

“It is clear that with the weak rand, inflation is going to breach 6% or even 6.5% or 7%,” he ventured.

“July is going to be a tough month for consumers, because municipal electricity increases usually also happen in this month,” said Schüssler.

Efficient Group’s chief economist, Dawie Roodt, also blamed the weakening of the rand as the biggest culprit for the expected petrol price hike.

“It is not a pretty picture,” said Roodt.

Motorists on the Reef are currently forking out R12.16 for 93 octane and R12.39 for 95 octane. Motorists on the coast are paying R11.96 for 93 octane and R12.02 for 95 octane.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.