More woes for motorists as petrol price increases
JOBURG – More woes are likely to continue for motorists petrol prices are set to climb next month. Get petrol price savvy here.
More woes are likely to continue for motorists, although diesel and illuminating paraffin are heading for reduced prices, while petrol prices are set to climb next month.
This according to the prediction made by Automobile Association (AA) who said rising international oil prices continue to do battle with gains in the rand/dollar exchange rate. AA was commenting on unaudited mid-month data released by the Central Energy Fund (CEF).
Layton Beard said, “We are seeing a gradual, but sustained return of strength to petroleum prices on the international market. Diesel and petrol prices have risen since late February. The appreciation of the rand against the US dollar has gone some way to offset this, meaning that diesel and illuminating paraffin are heading for reduced prices, while petrol is set to climb.”
The association added that current data predicts a petrol price hike of between 17 and 18 cents per litre, while diesel and illuminating paraffin are set for drops of 11 to 12 cents.
“Both the exchange rate, and international oil prices, continue to be volatile, and the month-end picture could be quite different from the current one,” Beard concluded.
