Cheer over as AA forecasts fuel price increase for February

Having dropped by close to a Rand a litre in January, the Automobile Association (AA) has predicted a minor fuel price increase for February for all but one grade.

Small uptick

A day after the commencing of the new year, the Department of Mineral Resources and Energy confirmed a decrease of between 62 cents and 76 cents a litre in the price of petrol, between R1.18 and R1.26 for diesel and 93 cents for illuminating paraffin.

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Commenting on the first unaudited data report by the Central Energy Fund on Tuesday (16 January), the AA said a combination of stable international oil prices and a weak Rand are driving prices up ahead of its implementation on 7 February.

Based on the provided data, motorist will have to fork out 14 cents a litre more for 93 unleaded, 11 cents for 95 unleaded and nine cents for diesel. The only exception is paraffin that will drop by three cents.

Be careful

Despite the uptake being smaller than some of the price increases last year, the association has advised consumers to be cautions and take preventative measures to extract the most out of their vehicle’s tanks when fuelling up.

“We also again remind motorists that a vehicle which is in good condition will use the optimal amount of fuel and will, in the long run, be more economical than a vehicle that has not been serviced or maintained,” it said in a statement.

“Another critical component to check is tyres; not only are tyres that are in poor condition a major safety risk, but they may also contribute to lower fuel economy if they are not properly aligned, or under or over-inflated. This applies to all vehicles including trailers and caravans which are towed.”

Department will have final say

The association has also indicated that the figures are, at present, preliminary and could change as the month progresses depending on the Rand’s performance against the Dollar and the mentioned price of Brent Crude Oil.

Besides the announcement the Department of Mineral Resources and Energy will make on the final amounts shortly before implementing them, a secondary report from the Central Energy Fund is expected towards month-end as a clearer representation of what could be expected from the department.

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