Petrol price could rise in November-AA
The AA said they are not ruling out a further deterioration in the fuel price picture ahead of month end.
MOTORISTS can expect an increase in petrol prices next month as the rand continues to struggle against the US dollar. That’s according to the Automobile Association.
Softer international petrol prices have been offset by a declining Rand since the start of October, while diesel and illuminating paraffin prices were slightly up, leaving them with no protection against Rand weakness.
“Unfortunately, Rand weakness against the US dollar saw an impact of 22 cents a litre, neutralising the fuel price gains and giving a petrol price increase of two cents a litre based on the current data. Diesel had taken an even bigger blow, as the international price of diesel had risen by up to six cents a litre.
Read also: Infographic-The price of petrol from 1986 to 2016
“Including the effects of Rand weakness, diesel is showing a potential price rise at the end of October of around 28 cents a litre, with illuminating paraffin set to rise 20 cents,” the AA said.
The latest data continues to show how vulnerable South African fuel users are to political and economic sentiment which negatively affects the Rand.
We are not ruling out a further deterioration in the fuel price picture ahead of month end.
Like our Facebook page and follow us on Twitter to keep up-to-date with local news or follow us on WhatsApp on 060 532 5532.
