The petrol price is set for a massive increase in April

The petrol price is set for a massive increase in April

Motorists can expect a big petrol price hike from the 1st of April, due to the rising global oil price, a weaker rand and the introduction of new fuel taxes. According to the latest data from the Central Energy Fund, the cost for both grades of petrol (93 and 95) will rise by R1.03 and R1.05 per litre respectively.

An additional 29 cents will be added onto the fuel levy, which means that the increases will actually be nearer the R1.32 – R1.34 p/l mark. The price of diesel is also set to increase by up to 59 cents per litre next month. Here is a breakdown of the expected petrol price for April 2019 in South Africa:

Coastal regions
 Petrol: R15.53 – R15.58
 Diesel: R14.22.
Inland regions
 Petrol: R15.92 – 15.97
 Diesel: R14.70.

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Not only do you skip one month’s instalment but we can also get you a lower interest rate! However, that is not all, when settling your current vehicle finance, the loan activity is reported to the credit bureaus, if you have kept up to date with the repayments it will positively influence your credit record – this is an important step towards maintaining a good credit profile. Apply to refinance your vehicle with Iemas today, visit Iemas vehicle finance or contact us on: 0861 043 627.

Adapted from: https://businesstech.co.za/news/general/307518/expect-a-big-petrol-price-hike-in-april/ and https://www.thesouthafrican.com/petrol-price-for-april-2019-forecast-south-africa/

Read other interesting blog articles here: How to save on fuel costs? or How to save on your vehicle expenses

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