Cape Town – The Automobile Association (AA) has predicted the first fuel price increase of the year for motorists, attributing it to the impact of a weaker rand.
Unaudited fuel data from the Central Energy Fund suggests possible increases in all fuel grades, except illuminating paraffin.
The AA anticipates a marginal rise of 11 cents per liter for 95 octane petrol, around 14 cents for 93 octane petrol, and nearly 10 cents for diesel.
The weaker rand against the US dollar is cited as a contributing factor, although stable international oil prices are keeping illuminating paraffin prices lower.
Motorists are advised to budget extra for February after a brief period of relief in the past three months.
“The weaker rand to US dollar exchange rate is contributing most to the expected increases in fuel even if it is by a small margin. However, the more stable international oil prices are having the reverse impact resulting in the lower illuminating paraffin prices,” said the AA.
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Compiled by Betha Madhomu
