More fuel price hikes are on their way next week‚ courtesy of a weaker rand.
This is according to the Automobile Association (AA)‚ which was commenting on unaudited month-end fuel price data supplied by the Central Energy Fund (CEF).
The CEF will announce the September fuel prices on Friday‚ before they come into effect on Wednesday next week.
“International petroleum prices remained virtually unchanged on average during August‚” the AA said on Thursday.
“But‚” it added‚ “the rand lost substantial ground against the US dollar‚ increasing the landed price of fuels.”
Petrol is expected to increase by between 23 and 25 cents a litre‚ with diesel rising by around 28 cents and illuminating paraffin by 17 cents.
“This will‚ for the first time‚ push the cost of 93 unleaded octane fuel inland above the R16 a litre mark‚ a significant barrier‚” the AA commented. – TimesLIVE
Source: TMG Digital.