Fuel prices are about to skyrocket to all-time highs, the Automobile Association (AA) warned shell-shocked South Africans on Thursday.
It expects a petrol price hike of up to 85 cents per litre in June.
The AA expects the diesel price to increase by 87 cents a litre.
Illuminating paraffin will be 82 cents per litre more expensive.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
55 cents, more or less, is caused by the higher oil price. The rest is caused by the exchange rate.— Kevin Lings, Stanlib Asset Management
We remain vulnerable to outflows…— Kevin Lings, Stanlib Asset Management
Are we willing to reduce the fuel levy…? It’s hard to imagine that Government would be willing…— Kevin Lings, Stanlib Asset Management
Inflation right now is 4.5%... if it starts moving up, and it will… it’s something that has to be watched. The Reserve Bank will then probably hike interest rates…— Kevin Lings, Stanlib Asset Management
We’ve got to urgently find a way to boost South Africa’s growth rate…— Kevin Lings, Stanlib Asset Management
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
Recommendedby NEWSROOM AI
Bruce Whitfield interviews Warren Ingram, a Personal Financial Advisor and Executive Director at Galileo Capital.
The Money Show’s Bruce Whitfield interviews Marais, a quantum biology researcher with dreams to live on Mars.
Eskom has so much debt it threatens to break South Africa. Bruce Whitfield interviews Dr Adrian Saville of Cannon Asset Managers.
The Money Show’s Bruce Whitfield interviews Abel Sithole, Principal Executive Officer at the GEPF, Africa’s largest pension fund.
Psychiatrist Renata Schoeman has tips and tricks to help you cope without blowing a fuse.
It’s now the most downloaded IOS app and 2nd most downloaded Android app in SA. Bruce Whitfield interviews co-founder Dan Wells.
DA's John Steenhuisen says Parliament should investigate the public protector after the findings against her.
ANC's Sdumo Dlamini says party spokesperson Pule Mabe free to return to work after he being cleared of sexual harassment charges.
Presenter Eusebius McKaiser hosted a panel discussion with black gay men exploring entrenched patriarchy and the dynamics at play.
MD at Rooibos Ltd, Martin Bergh explains the current high price of Rooibos tea.
The vehicle's owner came out of the store just in time to scare away the man attempting to steal his bakkie.
Vumatel is deploying 15 000 CCTV security cameras over the next five years to make Joburg's streets safer.
This is in addition to the food allowance that NSFAS funded students receive monthly, says spokesperson Kagisho Mamabolo.