REUTERS
Picture: Reuters/Max Rossi
If trends of the past three years are anything to go by, South Africans will be paying more than R11 for a litre of petrol from April – the most that fuel has ever cost.
Senior Econometrix economist, Tony Twine, and Gary Ronald of the AA predict that as the past two annual Budget speeches announced a steady increase in the fuel levy, it would be surprising if today’s speech did not follow suit with fuel and Road Accident Fund (RAF) levies.
Last year, the fuel and RAF levies had a combined increase of 27 cents a litre and, according to Ronald and Twine, the taxes were likely to increase by a similar amount this year.
Ronald estimated that the average middle-income family used about 2 000 litres of petrol per vehicle a year, or about 167 litres a month.
Currently, unleaded petrol 95 costs R10.65 at the coast, unleaded costs R10.57 and diesel costs R10.26 per litre.
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