Fuel prices are set for a significant jump when the price for February is adjusted next week, the Automobile Association (AA) says.<\/p>\n
Commenting on unaudited month-end fuel price data released by the Central Energy Fund, the association said it expects petrol to rise by up to 82 cents a litre<\/strong>, diesel by 59 cents<\/strong>, and illuminating paraffin by 60 cents.<\/p>\n It noted that South Africans are once again vulnerable to rand weakness.<\/p>\n “Unfortunately our mid-month concerns over the advancing oil price have been borne out in practice. There has been a slow, but steady, rise in the price of oil which is likely to cause ongoing pain at the pumps.<\/p>\n “Almost all of the fuel price increases reflected by this month’s data are attributable to the stronger oil price, and the average Rand\/US dollar exchange rate has remained generally flat for the month, despite some large daily swings,” it said.<\/p>\n The AA noted that the rand dropped to an all-time low of over R19 to the dollar last April and the currency has since appreciated to pre-Covid-19 levels.<\/p>\n “The record low exchange rate fortunately went hand-in-hand with record low oil prices, so the impact went largely unnoticed as fuel prices plunged.<\/p>\n “But economic or policy shocks which weigh on the rand are likely to have a more significant effect on the fuel price now that international oil prices have rebounded,” the association said.<\/p>\n This is how the expected changed would reflect at the pumps:<\/p>\n\n\n
\n Fuel (Inland)<\/th>\n January official<\/a><\/th>\n February Expected<\/th>\n<\/tr>\n \n 95 Petrol<\/td>\n R14.86<\/td>\n R15.68<\/td>\n<\/tr>\n \n 93 Petrol<\/td>\n R14.69<\/td>\n R15.51<\/td>\n<\/tr>\n \n 0.05% Diesel (wholesale)<\/td>\n R13.00<\/td>\n R13.59<\/td>\n<\/tr>\n \n 0.005% Diesel (wholesale)<\/td>\n R13.02<\/td>\n R13.61<\/td>\n<\/tr>\n \n Illuminating Paraffin<\/td>\n R7.40<\/td>\n R8.00<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
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