LIMPOPO -In a statement, the Department announced that the price of petrol will be 71 cents a litre more expensive from Wednesday (December sixth), diesel by between 57-60 cents and illuminated paraffin by 73 cents. A declining Rand and stronger international oil prices have been cited as the main reasons for the increase.
Read more on AutoDealer
LIMPOPO – The Automobile Association (AA) has warned cash strapped motorists to brace for a significant fuel price hike come December.
Unaudited mid-month fuel price data released by the Central Energy Fund (CEF) is forecasting a sharp jump in fuel prices at the end of November says the association.
Due to the drastic weakening of the Rand against the US Dollar and heavy increases in international oil prices,current data points to a 74 cents a litre jump in the price of petrol, 63 cents in diesel and 75 cents for illuminated paraffin.
“We cannot ignore signs that South Africa may face a further round of downgrades by ratings agencies, possibly even before December. Concerns over government’s fiscal discipline are likely to continue weighing heavily on the Rand, and if these factors combine with continued oil strength, South Africans will face heavy fuel price hikes for the remainder of 2017 and into early 2018,” the AA said.
