Petrol price likely to rise again in SA

Economists have predicted that SA fuel prices are set to rise next month

South African motorists will know their fate today as another price hike for next month looms.

Analysts say the price of 95-octane unleaded petrol is likely to rise by 55 c/l and that of diesel by between R1.15 and R1.09 a litre. This does not include the 11 c levy that was announced by Finance Minister Trevor Manuel during the budget speech last month.

The price of fuel is set to go up at midnight on Tuesday next week. The wholesale price of paraffin is likely to shoot up by R1.16 litre.

This will be part of a series of price hikes which prompted Reserve Bank Governor Tito Mboweni to call on consumers to tighten their belts earlier this week.

Economic analysts say there is a strong possibility that there will be another repo rate hike next month. Meanwhile other price hikes set for April include Eskom's 53% rise in tariffs.