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Sage Tax-Year End Ahead of the Curve What If?

01 Jun 2022

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As petrol breaches R24/litre, red-hot oil price spells more pain

Fin24 team

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On Wednesday, the price of petrol reached a new historic high – and plenty more record-breakers are expected in coming months, as red-hot oil prices may not cool soon.

The inland fuel price of 95 octane unleaded petrol (in Gauteng) rose to R24.17 a litre – from R17.13 a year ago. The price of 93 unleaded reached R23.94/l on Wednesday. The wholesale price of diesel in Gauteng increased to around R23.06/l.

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