Ladysmith motorists should brace themselves for another increase in the price of petrol.
The Automobile Association (AA) warned motorists on Friday to brace themselves for a huge fuel price hike in June, with further spikes in the coming months. The warning came hours ahead of the official announcement of the fuel price adjustments that will kick in on June 1.
The AA said in a statement that fuel prices are set for a sharp jump at the beginning of June, with the potential of further rises in the medium term.
Commenting on the unaudited month-end data supplied by the Central Energy Fund (CEF), the AA said the pump price for a litre of petrol is set to increase by 52 cents, while illuminating paraffin and diesel are set to go up by 61c/litre and 78c/litre respectively.
The reasons for the spike are the continued upward march of international petroleum prices in May and the weakening rand / US dollar exchange rate.
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