Brace for another fuel price hike
Fuel prices are set for another hike at the end of January.
According to the Automobile Association (AA), motorists need to get ready for another fuel increase at month-end as shown by the unaudited mid-month fuel price data released by the Central Energy Fund (CEF).
Read: Fuel price increases imminent
“The Rand / US Dollar exchange rate has firmed slightly since the start of January 2017,” the AA says, “but international oil prices have surged ahead by a far greater margin.”
The AA is predicting that petrol is set to jump by 44c, diesel by 37c and illuminating paraffin by 31c.
“There is always the hope that the spike in international oil prices will not persist, but that seems unlikely,” the association adds.
“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,” the AA concludes.
