Higher prices at the pumps as fuel costs increase again
The Automobile Association states that further fuel price hikes are inevitable before the year ends.
Stronger international oil prices, and a weakening rand, will combine to drive fuel prices higher at the end of September, according to the Automobile Association (AA).
“The first half of September saw the rand appreciate against the US dollar, but this trend has been reversed since September 12, with the weaker currency eating into its earlier gains,” the AA says.
“Petrol is set to rise by around 30c, diesel by 41c and illuminating paraffin by 37c.”
The AA states this month’s figures show just how vulnerable South African fuel users are to stronger fuel prices and Rand depreciation.
“With the USA eyeing interest rate increases and global oil markets remaining buoyant, our view is that further fuel price hikes are almost inevitable before the year ends,” the association concludes.
