Expect yet another fuel price hike
JOBURG – Further fuel price hikes are likely at the end of October.
Motorists should expect yet another fuel price increase by nearly 50 cents.
This is according to the Automobile Association (AA), which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund (CEF).
“The international price of petrol has climbed from 136 US cents per gallon to 148 cents since 27 September. Despite the Rand’s gradual appreciation against the US dollar over the same period, there has been a substantial impact on what South Africans are likely to be paying at the pumps next month.” said the AA.
The Association said that the current data was predicting petrol to increase by around 48 cents a litre, diesel by 64 cents and illuminating paraffin by 57 cents.
The motoring body added that the full effects of the Rand’s recent decline in the wake of the NPA’s decision to charge Finance Minister, Pravin Gordhan with fraud had not yet filtered into the data, and could be expected to put further pressure on fuel prices before month end.
