Middle East conflict will impact local fuel prices, warns AA
This follows unaudited data from the Central Energy Fund showing another petrol price increase for the month of May.
Petrol pumps at a fuel filling station. Picture: Zunaid Ismael/Eyewitness News
JOHANNESBURG - The Automobile Association (AA) has warned that the ongoing conflict in the Middle East could put strain on the rand, which will hike fuel prices.
This follows unaudited data from the Central Energy Fund showing another petrol price increase for the month of May.
This is the fourth consecutive hike in petrol prices since the beginning of the year.
As the conflict between Israel and Palestinian militant group, Hamas, continues, the Automobile Association says this will have an impact on local fuel prices.
It says the rand is likely to trade weaker against the dollar towards the end of the month, which will contribute to yet another petrol price increase.
This as the rand continues to trade over the R19 against the dollar.
The AA says this is among the highest petrol prices in the country since July 2022.
While petrol is expected to increase, diesel is set to decrease for another month.