Consumers, reeling at the cost of hikes in basic services, are set to face further petrol hikes this year, adding to their misery. Business Day newspaper, in an article written by Nickolaus Bauer, said that economists polled believe the petrol price could rise to R10 by the end of 2011.
The newspaper noted that prices may well spike 10% or more this year as tension in the Middle East and a weaker rand come into play.
Analysts predict that the increase could add up to more than 50c/l due to the government-approved fuel levy of 18c/l, which incorporates a further stipend to the Road Accident Fund, as well as 28c/l general increase in the cost of fuel.
This will mark the seventh month in a row that the fuel price has increased since September 2010.
Although the price of fuel at the coast is lower than that on the Highveld, the R10 mark is also likely to be under pressure on the East Coast.