FUEL price trends have tipped into negative territory, with price hikes on the cards for June.
This is according to the Automobile Association (AA), which was commenting on the Central Energy Fund’s mid-month unaudited fuel price data.
The AA said increases of between 48 and 52 cents per litre appeared likely for petrol, with diesel showing increases of 52 to 56 cents, and illuminating paraffin around 50 cents.
“Despite the relative stability of the Rand/US dollar exchange rate, the basic fuel price has been driven upwards by increases in international petroleum prices,” said the AA.
“Although some price stability has been evident in recent days, a substantial appreciation in either the exchange rate or international pricing would be needed to maintain the current fuel price come month end.”
“Price forecasts remain difficult, with considerable volatility evident. Motorists who are replacing their vehicles should consider more fuel-efficient models.”
“Adopting more fuel-efficient driving techniques and route patterns will also assist in containing fuel costs.”
