Another petrol price hike on cards
Find out how much you will have to pay to fill up.
South Africans can expect another steep increase in the price of fuel, according to the Automobile Association (AA).
This comes after the Central Energy Fund released its unaudited mid-month fuel price data.
“Motorists have been fortunate in 2016, so far, with lower oil prices buffering the country from the weaker rand,” said the AA.
“However, oil [price] has now strengthened while the rand continues to decline, with both contributing to the current under-recovery,” said the AA.
According to the AA, the data shows that petrol is set to increase by around 39c a litre, diesel by 61c a litre, and illuminating paraffin by 44c a litre.
“With oil prices rising steadily, South African fuel users have lost their cushion against the rand’s ongoing weakness,” said the AA.
“The concern over the rand’s short-term trajectory is growing; since the start of May, it has depreciated from around R14,20 to the US dollar to its current level of R15,80. If oil continues to firm, rand weakness will have a severe effect on fuel users,” said the AA.
This increase comes shortly after another sharp increase last month.
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