Petrol down or stable in May

2009-04-24 00:00

Motorists can expect the recent trend of steep fuel price hikes to come to a halt on May 6, when the latest fuel price changes come into effect, according to fuel price expectations.

Senior economist at Dynamic Wealth, Johan Van Tonder, told Weekend Witness yesterday that although there is a minor (three cents a litre) under-recovery in the petrol price, there has been a consistent over-recovery in recent days.

“By next week, there may be a slight decrease, or no change, in the petrol price. The huge increases of the past few months should end,” he said.

Although global oil prices have been slightly higher in April, the saving grace for motorists has been the recent strengthening in the rand against the dollar.

The diesel price is expected to increase slightly, possibly by five to 10 cents a litre.

The Central Energy Fund said yesterday that official fuel prices for May will only be announced on Thursday, because of the many public holidays this month.

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