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Perfect storm brewing for petrol price, repo rate shock

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Cape Town – South Africans could see the petrol price rising by about 70 cents a litre next month with a further increase the following month, according to Stanlib chief economist Kevin Lings.

Reinforcing this view, Automobile Association (AA) spokesperson Layton Beard told Fin24 that a perfect storm will see the petrol price escalate - a drastic turnaround from its rosy situation last month.

Continued petrol price hikes and a prolonged deterioration of the rand will then see inflation rise, causing a repo rate hike, Lings warned on Tuesday.

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