Expect more fuel hikes to hit us hard
The Automobile Association (AA) sent out a press release today predicting another fuel hike to hit us at the end of January. The AA was commenting on unaudited mid-month fuel price data released by the Central Energy Fund.
“The Rand / US dollar exchange rate has firmed slightly since the start of January 2017,” the AA said. “But international oil prices have surged ahead by a far greater margin.”
The AA is predicting that petrol will rise by 44 cents, diesel by 37 cents and illumination paraffin by 31 cents.
“South Africans should already be thinking of trimming any unnecessary expenses to accommodate a series of fuel price hikes which seem likely in the medium term,” the AA concluded.