Motorists should brace themselves – fuel prices are already hovering around record highs, but June could see one of the biggest increases to date if no further interventions are announced by the government.
According to the Automobile Association (AA), mid-month unaudited data is pointing towards petrol price increases of between R1.93 and R1.97 a litre while diesel is looking poised to rise by between R1.60 and R1.62, and illuminated paraffin by R2.14.
It must be noted, however, that final data may vary between now and the end of this month, reports IOL Motoring.
“In late March, the government reduced the GFL by R1.50 for April and May, which brought temporary relief.
“The big question now is how the government plans to deal with rising fuel costs from June onwards...” the AA said.
This R1.50 “tax holiday” is set to expire at the end of May, and there is no word yet on any possible extensions or other significant relief measures.
Earlier this year, the Minister of Finance announced various permanent adjustments to the fuel price calculation that would take effect from June.
However, it remains to be seen whether this will provide any buffer against rising international oil prices and a weak rand.
“Consumers are anxious and the government should allay these concerns by indicating what steps it will be taking to mitigate against rising fuel costs,” the AA said.