Petrol price to increase by over 50 cents in May, predicts AA
If this increase materialises, this will be the third straight increase to fuel prices this year - Automobile Association (AA)
“Unexpectedly strong international fuel prices have raised the spectre of an unwelcome fuel price hike for petrol users at the end of April.” This is according to a statement issued by the Automobile Association (AA), which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund.
The association says the current data suggests that petrol may increase by 56 cents a litre, while diesel is showing a reduction of five cents. Illuminating paraffin is predicted to decrease by a cent,” they say.
“The international product price of diesel climbed somewhat in the first half of April, while petrol has made a substantial jump. Diesel’s smaller increase is likely due to variations in international refining capacity, as well as the approaching end of the Northern Hemisphere winter when demand for diesel fuels for use in peaking power plants and as a heating fuel diminishes.”
The Association says that the price increases comes in spite of the Rand’s strong performance against the US dollar since the end of March.
