According to the association’s Graeme Scala, data from the Central Energy Fund has indicated significant spikes in the fuel price for February.
Prices show a possible increase of between 28 and 32 cents per litre for petrol, 15 cents for diesel, and 9 cents for illuminating paraffin.
Scala said the increase was largely due to the poor rand/dollar exchange rate, which had deteriorated in the past few weeks.
“Despite international petroleum prices having declined, the rand had weakened over the same period with the rand at R11 to the US dollar,” he said.
“If the exchange rate flattened, the figures could improve, but for now it was not looking good,” he added.
The possible fuel hike would be the third increase in three months.
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