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Cape Town - An announcement that the petrol price would probably increase by 8 cents per litre could be expected on Friday, Mike Schüssler of economists.co.za told Fin24.
He said although the price could be lowered by 16 cents per litre due to oil prices being down and the rand a little stronger at the moment, taxes of 20 cents - the fuel tax and RAF levy combined - plus about a 4 cents increase in transport costs as announced, will come into effect.
The diesel price will decline with 6 cents, in his opinion.
"That is my calculation give or take a cent either way," said Schüssler.
"I am not worried so much for the next month or two as oil prices could be lower for the next three or four months as Northern Hemisphere summer comes," he said.
"But from August oil prices do tend to increase and that will influence prices upwards again from September. With fears of Russian gas sanctions still around, it could then be a biggish increase."
He said consumers are already strained and the little petrol price relief possibly from May onwards would be wonderful for many.
"However, electricity prices are on the up again then," he said.
Dawie Roodt, chief economist of the Efficient Group, told Fin24 he estimates that the announcement on Friday could be that the petrol price will increase between 3 and 6 cents per litre.
He expects that the petrol price could be down 15 cents due to the strong rand, 20c up due to the taxes coming into effect and 3c down due to lower pipeline cost, therefore a net increase of about 5c.
He said although the price could be lowered by 16 cents per litre due to oil prices being down and the rand a little stronger at the moment, taxes of 20 cents - the fuel tax and RAF levy combined - plus about a 4 cents increase in transport costs as announced, will come into effect.
The diesel price will decline with 6 cents, in his opinion.
"That is my calculation give or take a cent either way," said Schüssler.
"I am not worried so much for the next month or two as oil prices could be lower for the next three or four months as Northern Hemisphere summer comes," he said.
"But from August oil prices do tend to increase and that will influence prices upwards again from September. With fears of Russian gas sanctions still around, it could then be a biggish increase."
He said consumers are already strained and the little petrol price relief possibly from May onwards would be wonderful for many.
"However, electricity prices are on the up again then," he said.
Dawie Roodt, chief economist of the Efficient Group, told Fin24 he estimates that the announcement on Friday could be that the petrol price will increase between 3 and 6 cents per litre.
He expects that the petrol price could be down 15 cents due to the strong rand, 20c up due to the taxes coming into effect and 3c down due to lower pipeline cost, therefore a net increase of about 5c.
