Following a hefty increase at the beginning of the year, motorists should brace themselves for another fuel price hike at the end of January.
The Central Energy Fund (CEF) released unaudited mid-month fuel price data and based on this the Automobile Association is predicting a increase of at least 44 cents per litre for petrol, 37 cents for diesel and 31 cents for illuminating paraffin.
“The rand/ US dollar exchange rate has firmed slightly since the start of January, but international oil prices have surged ahead by a far greater margin,” the AA said.
With the predicted increase in mind, this is how the prices could reflect at the pumps:
– 95 petrol will increase from R13,33 in January to an expected R13,77 in February
– 0,05 per cent diesel (wholesale) will increase from R11,42 in January to an expected R11,79 in February
The AA concluded by saying, “There is always the hope that the spike in international oil prices will not persist, but that seems unlikely. South Africans should already be thinking of trimming any unnecessary expenses to accommodate a series of fuel price hikes, which seem likely in the medium term.”
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