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Petrol price May 2019 - AA predicting another huge increase at the pumps

Apr 15, 2019
Petrol price May 2019 - AA predicting another huge increase at the pumps

Local motorists face another fuel price increase in May 2019

Port Elizabeth - The Automotive Association of South Africa (AA) on Monday said that local motorists, reeling from a massive fuel price increase in April, can expect another huge fuel price increase in May.

"Unexpectedly strong international fuel prices have raised the spectre of an unwelcome fuel price hike for petrol users at the end of April," the AA said.

It was commenting on unaudited mid-month fuel price data released by the Central Energy Fund.

"The current data suggests that petrol may increase by 56 cents a litre at the end of April, while diesel is showing a reduction of five cents and illuminating paraffin down by a cent," the AA said.

"If this increase materialises, this will be the third straight increase to fuel prices this year."

The AA noted that international product price of diesel climbed somewhat in the first half of April, while petrol has made a substantial jump.

May 2019 fuel price incease a cause for concern

"Diesel's smaller increase is likely due to variations in international refining capacity, as well as the approaching end of the Northern Hemisphere winter when demand for diesel fuels for use in peaking power plants and as a heating fuel diminishes," it said.

"The Rand has appreciated quite strongly against the US dollar since the end of March, with the daily exchange rate used for fuel price calculations rising from over R14.60 to the dollar on 31 March to under R14 currently.

"The ground gained by the local currency has cushioned some of the blow, with diesel currently showing a slight decrease. But petrol users are in for a shock."

It added that price stability in illuminating paraffin is welcome as South Africa heads into its own winter, during which many households will be using paraffin as a heating fuel.

"But the rise in petrol is cause for concern when our economy is already in difficult waters."

9 tips on how to save fuel on your car

You can, in the meatime, read up on some tips on how to save fuel on your car.

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