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AA blames rise in petrol prices on NPA's decision to charge Gordhan

Yesterday, the Energy Department announced that the price of petrol would increase by 45 cents.

Petrol. Picture: Katharyn Williams-Jaftha/EWN.

JOHANNESBURG - The Automobile Association (AA) says the National Prosecuting Authority (NPA)'s decision to charge Finance Minister Pravin Gordhan with fraud continues to negatively affect the price of petrol.

Yesterday, the Energy Department announced that the price of petrol would increase by 45 cents.

Diesel will rise by 63 cents a litre and illuminating paraffin by 76 cents per litre.

The AA's Layton Beard says the rand incurred heavy losses at midmonth in the wake of the NPA's decision to charge Gordhan.

,"The rand took heavy losses in the wake of the NPA's decision to charge finance minister Pravin Gordhan and although we've seen somewhat the strengthening of the rand, the deficit is still there and because of that the fuel price is going to go up."

Nedbank economist Issac Matshego said, "At the moment we are seeing food prices being pressured by drought conditions.

"As a result, we expect the higher fuel prices to add to the inflationary pressure. Inflation is likely to remain above the six level for the next few months."

Beard The deficit has not been made up even though the rand has been slightly stronger in the last 10 days