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‘Significant’ petrol price hike on Wednesday is indicative of good news

1 June 2020 8:46 AM
Tags:
Fuel
Petrol price
Diesel
Fuel prices
Petrol
Automobile Association
Fuel price increases
Refilwe Moloto
Diesel price
illuminating paraffin
AA
Layton Beard
illuminating paraffin price
diesl supply
fuel supply

Expect a petrol price hike of about R1.20 per litre as the world economy gets into gear once more.

Fuel was cheap when we couldn’t drive.

Now that we’re hitting the road again, the only way is up.

On Wednesday, the price of petrol will increase by about R1.20 per litre, the Automobile Association (AA) estimated a couple of days ago.

It expects the diesel price to be up to 25 cents per litre more expensive while illuminating paraffin will cost about 44 cents per litre more.

Picture: Pixabay.com

Refilwe Moloto asked AA spokesperson Layton Beard about the dynamics leading to the upward price adjustments.

They also spoke about South Africa’s reportedly scant diesel supplies.

It’s a significant increase…

Layton Beard, spokesperson - Automobile Association

Some diesel refineries were offline… they [the petroleum industry] estimate the economy has recovered a lot quicker than they expected. Both these factors led the diesel supply shortages… there should be normal production going into June…

Layton Beard, spokesperson - Automobile Association

The world is coming out of lockdown… The economy is beginning to recover. Manufacturing is restarting… The world economy in recovery means demand is increasing… that’s the main driver behind the increase.

Layton Beard, spokesperson - Automobile Association

Petrol operators would’ve taken a large hit in the last two months… The government took a huge knock as well – losing R7 billion in taxes in March and April… incredible impact on fuel retailers… Getting back to relative normality is good news…

Layton Beard, spokesperson - Automobile Association

Listen to the interview in the audio below.


1 June 2020 8:46 AM
Tags:
Fuel
Petrol price
Diesel
Fuel prices
Petrol
Automobile Association
Fuel price increases
Refilwe Moloto
Diesel price
illuminating paraffin
AA
Layton Beard
illuminating paraffin price
diesl supply
fuel supply

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