South Africans have had a rough go of it when it comes to soaring fuel costs. Unfortunately, this is unlikely to end anytime time soon as reports of a surge in crude oil prices look to hit the market, as per ENCA.
Despite the ever-increasing price of petrol, the South African government has attempted to cushion the blow by implementing a general fuel levy cut, which it has extended for another month. What happens next is still up for debate.
However, economist Mike Schussler may have an idea: “It’s very clear that consumers will see an increase in the next two months. The volatility in the oil market is not over yet.”
There may be some good news. Schussler states that the increase could still be lower than the drop “from the R14.39 centre per litre which happened in August last year.”
Despite in increase in crude oil, motorists may still have a chance to save money.
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