Cape Town - South African motorists had a rollercoaster year in 2016 and a sharply lower rand in a strengthening oil price environment could make for eye-watering fuel prices, the Automobile Association (AA) said on Thursday.
South African motorists were already hit hard at the start of the New Year with the latest petrol and diesel price hikes. The retail price of petrol (93 octane) increased by 50 cents per litre and that of 95 octane by 48c/l.
The wholesale price of diesel - 0.05% sulphur and 0.005% sulphur - went up by 39c/l and 39c/l respectively, while the wholesale price of illuminating paraffin increased by 43c/l.
The Department of Energy said the economic factors which impacted fuel prices include an increase in average international product prices of petrol, diesel and illuminating paraffin.
The AA considers the major domestic risk the perceived abuse of state institutions for personal gain by senior government figures.