Largest price hikes in history may see petrol top R20/litre by year-end
A “perfect storm” is leading to energy supply shortages around the world while demand is on a steady rise.
Brent crude is trading at around $85 dollars per barrel, up from $9 in April last year.
Expect “catastrophic” increases next month, warns the Automobile Association (AA).
It forecasts the following price hikes:
Petrol up by 99 per litre
Diesel and paraffin up by R1.42 per litre
These hikes, if implemented, will be the largest monthly increases in history.
The AA expects petrol to top R20 per litre by the end of the year.
Pippa Hudson interviewed motoring journalist Ciro de Siena (scroll up to listen).
The AA is saying we might be at R20 a litre before the end of the year…Ciro de Siena, motoring journalist
Electricity is still a lot cheaper than petrol…Ciro de Siena, motoring journalist
Source : https://www.123rf.com/photo_81519200_open-empty-leather-wallet-no-money-in-pocket-empty.html?vti=mxg894698shohvpysa-1-11