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Petrol price shocker on the cards

Jun 06 2013 07:10
Petrol

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Cape Town - The petrol price relief could be shortlived and  motorists could be paying almost R1 more for fuel, according to BDLive.

The agency reported on Wednesday that the petrol price could again breach the R13/l mark.

The under-recovery on 95 octane petrol is currently 86 cents a litre 9 (c/l) and 77c/l on diesel. If this continue by June 28 then motorists will be in for a surprise.

The final over- or under-recovery number is calculated on the last Friday of the month, and the adjustment implemented from the first Wednesday of each month.

The price of petrol might go up by 90c, according to the Automobile Association (AA).

Public affairs director Gary Ronald told the agency that there are three weeks to try to claw back the under-recovery.

He said that for the petrol price to remain unchanged, the rand will need to regain to about R9.20/$, if oil remains at $100/barrel.

The retail price of petrol decreased by 8c/l on Wednesday, while diesel will fell by 3.98c/l.

However, at the time, the government warned that the weakness in the rand would affect July prices.

"The department would like to take this opportunity to caution that the impact of the weaker currency will be felt in the July adjustment," the energy ministry said in a statement.


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