Reading Time: 2 minutes

Yet Another Petrol Hike Is Coming And Its A Big One

As the oil-producing countries of the world are slowly getting their act together and have stopped their competitive price wars, which saw petrol prices drop during the Pandemic, it is expected that petrol prices (which have been artificially low) will now rebound and progressively increase.

It looks like this is in full effect now and the price hikes should now come in one after the other. Already 2021 has seen increases and this looks set to carry on.

Oil is priced in Dollars so when the Rand loses relative value to the US Dollar the cost of oil is going up. This means the cost of petrol is going up, which in turn will push up the price of transported items (such as food).

‘Petrol will cost you R17.48 per litre’

The anticipated 90 Cent/ litre increase will be added to an additional 26 Cent levy increase at the start of April 2021. This means that by April there is likely to be a R1.16 increase in the cost of Petrol and roughly a 92 Cent jump in the cost of Diesel.

The Price

Petrol will cost you R17.48 per litre, with 35% of that cost (R6.10) being made up by tax.