Big petrol price hike predicted

2014-01-16 14:33

Data from the Central Energy Fund is currently predicting big hikes in the fuel price for February, the Automobile Association of SA (AA) has said.

“After remaining fairly flat throughout December, the exchange rate has deteriorated from a South African perspective,” said the AA’s head of public affairs, Graeme Scala, today.

“The rand is now testing the R11 to the US dollar mark and, although international petroleum prices have declined over the same period, the drop has not been enough to offset the increased exchange rate,” he added.

Petrol is showing a potential climb of between 28c and 32c a litre Diesel may rise by 15c a litre, and illuminating paraffin may go up by 9c a litre.

“If the current spike in the exchange rate flattens out, these figures could improve, but for now it is not looking good,” Scala concluded.

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