Fuel price will hit motorists’ pockets hard

Fuel prices are set for a sharp jump at the beginning of June, with the potential for further rises in the medium term.

“International petroleum prices continued their upward march during May and the weakening Rand/US dollar exchange rate has exposed the consumer to the full force of oil’s strength,” the AA says.

“Petrol is set for a rise of 52c a litre in June, illuminating paraffin will be up 61c, and diesel a full 78c.

“With South Africa’s weak economy, our concern is that even if oil prices moderate, further declines in the Rand will mask the benefit.

“It is possible that fuel prices will test new highs in the coming months, placing yet more stress on consumers,” the AA concludes.