The latest data from the Central Energy Fund shows that a petrol price hike is cemented for April, while diesel users are in for some relief – withThe CEF data shows that the under-recoveries have pulled back from over R1.00 per litre for petrol at the start of the month, while the under-recoveries for diesel have remained somewhat stable.the hike building for April will still send petrol prices close to R25.00 a litre Between November 2023 and January 2024, petrol prices have decreased by R3.
Investec’s chief economist, Annabel Bishop, stated that fuel prices have contributed meaningfully to inflation since February. The weakening value of the rand this week has also resulted in a decline in the chances of getting better petrol prices. A recent analysis by Bloomberg revealed that crude oil advanced overall in the first quarter despite its weakening in recent sessions.