The Automobile Association (AA) has cautioned South African motorists that the five-month streak of fuel price decreases is expected to end in November. According to data from the Central Energy Fund (CEF), several fuel price hikes are forecast across the board.
Speaking on VOC Breakfast, Spokesperson for the AA Eleanor Mavimbela highlighted two key factors driving the price hikes: a rise in international oil prices and the weakening of the South African rand.
The anticipated changes are as follows:
– Petrol 93: an increase of 3 cents per litre
– Petrol 95: an increase of 14 cents per litre
– Diesel 0.05% (wholesale): an increase of 14 cents per litre
– Diesel 0.005% (wholesale): an increase of 13 cents per litre
– Illuminating paraffin: an increase of 7 cents per litre
“The international oil prices peaked from the beginning of October until now, showing a slight increase from previous months. This has been influenced by the current situation in the Middle East,” Mavimbela explained.
“The rand has also not been able to buffer the increase in international product prices, as it has weakened against the US dollar. It looks like this will be quite an impactful increase in fuel prices,” she warned.
With both petrol and diesel prices on the rise, motorists are encouraged to prepare for more expensive trips in the coming month.
Listen to the full interview below:
VOC News
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