"In August/ September prices go up and they fall around December/ January. One can expect that this increase will remain, but I think we can expect a fall towards the end of the year."Schussler explains that the international impact is around this time of the year as it is winter in the Northern Hemisphere, so they will using more oil. The Northern Hemisphere is the biggest user of fuel in the world!
"The average person will use around 140 litres of petrol a month, then the increase is going to mean an extra R82 on their petrol allowance," explains Schussler.This will in turn affect the retailers as people will be spending less money there, and rather have to put that into their petrol allowance. Many of the industries in South Africa will suffer if the increase is sustained long term. The transport industry in particular, will have to increase their fares, making travelling a whole lot more pricey. Not only that, but the aviation industry will also take a hit which means no more R3 air ticket sales for the next while. We can only hope that Schussler's predictions are right and that this is a seasonal increase and that it will decrease towards the end of 2017. In the meantime, grab your last burger or piece of sushi before we feel the petrol pinch!
Needing more cash to fill up for the month? Why don't you start saving on your car insurance premiums today!