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Johannesburg - It has been little more than two weeks into January 2017 an already SA motorists have experienced a fuel-price hike. Now, the Central Energy Fund has announced another hike at the end of January.
This is according to the Automobile Association (AA), which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund (CEF).
The AA said: "The Rand/US dollar exchange rate has firmed slightly since the start of January 2017. But international oil prices have surged ahead by a far greater margin."
Fuel hike
The AA is predicting that petrol is set to jump by 44 cents, diesel by 37 cents, and illuminating paraffin by 31 cents.
The Association said: "There is always the hope that the spike in international oil prices will not persist, but that seems unlikely."
"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."
READ: Bad start for 2017! Hefty fuel increase set for January
Earlier in December 2016, Wheels24 reported that January 2017 would see the first of what the Automobile Association (AA) expected to be a series of fuel price hikes in the new year. The AA said that unaudited month-end fuel price data released by the Central Energy Fund (CEF) showed substantial price increases for all types of fuel.
The AA observed that if international petroleum prices had remained unchanged from November, South African fuel prices would actually have dropped by around two cents a litre in the new year. Instead, petrol is expected to increase by 51 cents a litre, diesel by around 40 cents and illuminating paraffin by 43 cents.