MOTORISTS are warned to brace for yet another fuel increase after data released on Monday by the Central Energy Fund (CEF) alluded to an increase of between 17 and 18 cents a litre in May.
Commenting on the unaudited data, officials at the Automobile Association attributed the possible hike to the fluctuation of international oil prices, which were offset by the strengthening of the rand.
‘Both the exchange rate and international oil prices continue to be volatile and the month-end picture could be quite different from the current one,’ said the association in a statement.
According to the data, diesel and illuminating paraffin could drop by 11 to 12 cents.
‘On the international market, diesel and petrol prices have risen since late February. We are seeing a gradual, but sustained return of strength to petroleum prices,’ the AA said. ‘The appreciation of the rand against the US dollar has gone some way to offset this, meaning that diesel and illuminating paraffin are heading for reduced prices, while petrol is set to climb.’
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