AA foresees hefty fuel price hit
28 February 2014
Consumers likely to feel the pinch again in March
Strong international crude oil prices have overpowered the appreciating Rand, leaving South African consumers facing yet another hefty fuel price increase in March. This is according to the Automobile Association, which was commenting on Central Energy Fund data as at 26 February.
“The Central Energy Fund Data is currently suggesting a fuel price hike of up to 34 cents per litre for petrol, 26 cents per litre for diesel and 16 cents per litre for illuminating paraffin,” the AA said. “The month is basically at an end and there is little chance of either a heroic surge in Rand strength or a retreat in international oil prices. Unfortunately, we expect the fuel price increase for March to be in the region of the current numbers.”