Weaker rand set to bring fuel price hikes in February, predicts AA
It follows the release of the unaudited fuel data from the Central Energy Fund.
Petrol pumps at a fuel filling station. Picture: Zunaid Ismael/Eyewitness News
JOHANNEBURG - Motorists may be in for the first round of fuel price increases for the year as a weaker rand continues to bite.
This is the Automobile Association (AA)’s latest fuel prediction.
It follows the release of the unaudited fuel data from the Central Energy Fund.
The mid-month data released by the Central Energy Fund points to a possible increase in all grades of fuel, except for illuminating paraffin.
Commenting on the latest data, the AA said motorists could expect a marginal increase of 11 cents per litre for 95 octane petrol.
The cost of 93 octane petrol is tipped to increase by about 14 cents per litre, while diesel is set to increase by almost 10 cents per litre.
The AA said the weaker rand to the US dollar was contributing to the expected increase, even if it’s by a small margin.
The stable international oil prices are having a reverse effect, resulting in lower prices for illuminating paraffin.
After seeing some reprieve for the last three months, motorists are now being warned to budget a little extra for February.