AA predicts price hike at fuel pumps for March
The AA says unaudited data from the Central Energy Fund shows a significant increase of at least R1.20 for both grades of petrol and diesel.
Man with empty wallet at petrol station. Photo: nomadsoul1/123rf.com
JOHANNESBURG - Motorists may have to dig deeper into their pockets this month, as the Automobile Association (AA) predicts another fuel price hike.
The AA says unaudited data from the Central Energy Fund shows a significant increase of at least R1.20 for both grades of petrol and diesel.
Last month, fuel prices went up after a three month reprieve.
AA Spokesperson Layton Beard explained: "The main driver behind the increases is higher international product prices in addition to the higher average Rand/US Dollar exchange rate. While the weaker rand is contributing a small margin to the under-recovery and increase to prices expected, the overall picture still looks bleak and consumers will feel the pinch."