Petrol could breach R25 per litre mark in Gauteng in October

Motorists have been warned to brace for another possible steep hike in the petrol price in October.

The Automobile Association said diesel prices could increase for the fourth consecutive month when fuel prices for October are adjusted next Wednesday.

Commenting on unaudited fuel data from the Central Energy Fund (CEF), the AA said petrol and illuminating paraffin prices would also increase – both for the third consecutive month.

Increases

“According to the current data, diesel is expected to increase by around R1.60 per litre, while petrol is expected to increase by between 75 cents and 80 cents per litre depending on the grade. Illuminating paraffin is expected to rise by more R1.50 per litre.

“As was the case with the previous increases, these latest significant adjustments are mainly attributable to rising international oil prices. While the weaker Rand/US Dollar exchange is also playing a role in the hikes for all fuels, its contribution is less substantial than the international product prices,” said the AA.

Based on the forecast, ULP95 petrol in Gauteng will rise above R25 per litre and at the coast above R24 per litre for the first time since August last year.

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Consumers will suffer

The AA’s spokesperson Layton Beard said such increases would hit all consumers hard.

“They come at a time when most South Africans are feeling extreme financial pressure. It remains concerning, however, that in the face of these increases, government remains silent on its plans, if there are any, on a way forward to deal more effectively with fuel price increases.”

The AA has advised motorists to keep their vehicles in good mechanical condition, with tyres inflated to manufacturer’s specifications to ensure optimal fuel usage.

“Minimising trips where possible, using air conditioners sparingly, and not overloading the vehicle are other measures owners can take to decrease fuel consumption,” it said.

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