South Africa will see the first real result of a depreciating rand when petrol is expected to increase by about 50 cents a litre in May.
The Automobile Association’s mid-month data indicates petrol is to increase by up to 55 cents a litre, with diesel likely to go up by 39 cents a litre.
The Automobile Association says the country’s downgrade to junk after President Jacob Zuma’s controversial cabinet reshuffle will start haunting the country in months to come.
More expensive fuel will have a knock-on effect, leading to price hikes of most products.
The Automobile Association says the cost of diesel is also expected to rise considerably.