Expect further fuel hikes next month
Motorists are expected to be paying even more at the pumps next month.
THE price of fuel is expected to increase yet again at the end of October.
According to the Automobile Association (AA), commenting on unaudited mid-month fuel price data released by the Central Energy Fund, there has been a definite appreciation in oil prices since OPEC resolved to cut oil production.
The AA said the international price of petrol has climbed from 136 US cents per gallon to 148 cents since 27 September, and despite the Rand’s gradual appreciation against the US dollar, there has been a substantial impact on what South Africans are likely to be paying for fuel next month.
The AA said that the estimated petrol increase is about 48 cents a litre, with diesel going up by 64 cents and the price of illuminating paraffin estimated to rise by 57 cents.
