Just as South Africans have learnt to live with June’s heavy fuel prices, predictions for July are already making some motorists sweat.
According to some experts, the next price locals could need to get comfortable with, is a striking R26.18 per litre for petrol – the highest petrol price Mzansi has ever known.
According to Annabel Bishop, Investec chief economist, this possibility marks double the price people were paying just two years ago, as per BusinessTech.
Data from the Central Energy Fund, although unaudited, also supports this projection of what will earmark roughly a R2 increase.
But that’s not all – diesel prices are also set to raise the stakes, increasing to around R24.27 per litre.
What about the general fuel levy cuts by the government? The cuts were part of a one-month extension period from June, making July far more taxing for motorists and commuters as the fuel levy is to become halved.
The pressure as such is now on, as all eyes turn to the government. Some are urging for more permanent solutions to the fuel problem, but whether the Finance Ministry will play ball is a matter of speculation at this point.
Meanwhile, deputy director-general for minerals and petroleum regulations, Tseliso Maquebla, noted that the blame is not to be placed on levies and taxes, but on the pain point of high oil prices, as Business Day reports.