Price of petrol expected to rise in May

By Staff Writer

According to the Automobile Association (AA), petrol prices are predicted to rise between 17 and 18 cents a litre in May.

The AA commented on the unaudited mid-month data released by the Central Energy Fund (CEF) that rising international oil prices continue to do battle with gains in the Rand / US dollar exchange rate.

"We are seeing a gradual, but sustained, return of strength to petroleum prices," the AA said. "On the international market, diesel and petrol prices have risen since late February."

"The appreciation of the Rand against the US dollar has gone some way to offset this, meaning that diesel and illuminating paraffin are heading for reduced prices, while petrol is set to climb," added the AA.

Diesel and illuminating paraffin prices are expected to drop by 11 to 12 cents per litre.

The AA concluded: “Both the exchange rate, and international oil prices, continue to be volatile, and the month-end picture could be quite different from the current one."

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