South Africans, buckle up for an unprecedented hike in fuel prices come April 2021.
The price per litre might surpass R17 in inland regions. According to the Central Energy Fund, an increase of up to R1.16 per litre is predicted for petrol.
Diesel costs will also rise, with the estimated increase standing at 92 cents per litre, reports The South African.
However, these prices are not confirmed and are subject to the fluctuating Rand-Dollar exchange rate as well as international petroleum product costs, which in turn are driven by oil prices.
In addition, the National Treasury’s 2021 budget indicated that motorists will also have to face tax increases. An added 15 cents per litre will further push fuel prices, aided by an increase of 11 cents per litre in the Road Accident Fund levy, reports Business Tech.