The Automobile Association warned on Tuesday that the recent drop in the fuel price could be short lived.<\/p>\n
“International fuel prices have climbed by over 20 percent since the last week of January,” the AA said in a statement.<\/p>\n
“A spike in the Rand\/US Dollar exchange rate has also put pressure on the fuel price, with current data predicting a March price increase for petrol of around 68 cents a litre, with diesel and illuminating paraffin up by approximately 45 and 48 cents a litre respectively.”<\/p>\n
According to the latest data from the Central Energy Fund, the fuel price is showing the following under-recovery<\/strong>:<\/p>\n In the first week of February, the price of all grades of petrol dropped by 93 cents a litre.<\/p>\n In early January the price of 93 and 95 octane petrol decreased by R1.27 and R1.23 a litre.<\/p>\n Unless there were substantial improvements in both the exchange rate and international petroleum prices, motorists could be faced with a fuel price hike at the end of the month.<\/p>\n “It’s too early to tell whether the uptick in fuel prices is mere volatility or a sign that the bottom of the cycle has been reached,” the AA said.<\/p>\n SA petrol price set for big drop in February<\/a><\/strong><\/p>\n Another massive petrol price drop expected<\/strong><\/a><\/p>\n\n
More on the petrol price<\/h3>\n