Cape Town — The Automobile Association (AA) of South Africa warned that motorists can expect yet another steep increase in fuel prices following its mid-month fuel data release, dealing yet another blow to customer pockets.
Following an increase in February’s petrol prices, AA revealed data from the Central Energy Fund (CEF) showed fuel prices are set to edge over the R24 per litre mark, moving closer to the record high of R25 per litre experienced last year. The data revealed an expected increase of R1.35 per lire for 95 unleaded petrol, R1.31 per litre for 93 unleaded petrol, R1.43 per litre for diesel, and 96c per litre for illuminating paraffin, TimesLIVE reported.
According to AA, international product prices are playing a role in the expected increases, while the weak rand in the rand/dollar exchange rate is is also playing a smaller contributing factor, with concern that the increases will put pressure on customers for the foreseeable future.
“These hefty increases also reaffirm our belief that a review of the fuel price is necessary to establish if any components within the current pricing model can be revised by the department of mineral resources & energy to mitigate against rising costs, especially for diesel as higher input costs will be recovered through higher prices at the till,” it said.
According to JacarandaFM, AA has called on Finance Minister Encoch Godongwana to consider not increasing the General Fuel and Road Accident Fund levies in his Budget Speech next Wednesday.
“Any relief, even in the form of non-increases would be welcome to a consumer base already reeling from economic hardship,” the AA concluded. The adjusted fuel prices are set to come into effect on 6 March.
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Compiled by Matthew Petersen
