AA predicts another fuel price surge
The current data predicts a month-end price hike of up to 35 cents a litre for petrol, 33 cents for diesel, and 29 cents for illuminating paraffin.
MOTORISTS will have to dig much deeper in their pockets with yet another substantial fuel price rise on the horizon.
The Automobile Association (AA), which was commenting on an unaudited mid-month fuel price data issued by the Central Energy Fund (CEF), said for the first time in a while, the Rand has shown reasonable strength against the US dollar during one of its reporting periods.
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“However, this is not enough to counter rampant increases in the international prices of fuels, which have risen by up to six per cent in the past two weeks.”
The current data predicts a month-end price hike of up to 35 cents a litre for petrol, 33 cents for diesel, and 29 cents for illuminating paraffin.
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“Without the benefit of Rand strength, the increase per litre would have been up to 50 cents in some cases,” said the AA.
The AA concluded that they are now seeing what they believe is the beginning of some Rand weakness, and the current picture may deteriorate by month-end.
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