Things look rosy for petrol and diesel prices at the moment – but economists expect price pressure in the coming months.
Efficient Group founder and chief economist Dawie Roodt said South Africans should expect an increase in the price of petrol and diesel because of higher taxes.by R2.06 per litre while diesel price decreased by R2.81 and R2.69 per litre from 50ppm and 500ppm, respectively.
Oil prices also continue to drop in response to fears of a global economic recession, which is good news for consumers. “I am sure we will see an increase in the petrol price in March because the finance minister always increases the fuel levy during his February meeting,” he said. Apart from tax increases, the fuel price is mainly driven by the rand exchange rate and the oil price.
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