Analysts at professional services firm PwC have warned that the petrol price could reach the R20/litre barrier again in February.
In the third week of January, international oil prices climbed once again which suggest that the fuel prices will rise again in early February, the firm said in an analysis on Tuesday. PwC said that fuel prices are expected to continue rising in 2022, meaning South African companies will have to adjust accordingly.
The possibility of R20/litre or higher will also lead to renewed calls for a review of the fuel price structure, the firm said.
Finance minister, Enoch Godongwana, and energy minister, Gwede Mantashe, both confirmed in December 2021 that the government is looking at options to lower the cost of fuel to consumers.
The Automobile Association of South Africa has launched a petition calling for a complete review of the country’s petrol price and how it is calculated.
Sources: BusinessTech, MSN
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