Sharp movements in international petroleum prices combined with a weakening SA rand are pushing fuel prices higher this December.
This is according to the Automobile Association (AA), commenting on unaudited month-end fuel price data released by the Central Energy Fund (CEF).
“The rand has followed a similar trend, weakening against the US dollar on average, although it has been surprisingly resilient in the days following South Africa’s recent credit ratings downgrade,” they said in a statement.
“We expect illuminating paraffin to rise by around 76 cents a litre, diesel by 64 cents, and petrol by 72 cents.”
They said South Africa’s economic situation remains weak, and further fuel price hikes can be expected during the remainder of 2017 and into the first quarter of 2018.
“There is always the temptation to spend more on non-essential items during the holiday period, but we advise motorists to be prudent and keep a cushion against higher motoring costs in the new year,” they said.
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