The Automobile Association says South African motorists can expect a “hefty” fuel price hike in November, despite the recent strengthening of the rand against the US dollar.
The AA was commenting on unaudited month-end fuel price data released by the Central Energy Fund.
“The rand incurred heavy losses at mid-month in the wake of the NPA’s decision to charge finance minister Pravin Gordhan,” the AA said in a statement.
“The deficit has not been made up, even though the rand has been slightly stronger in the last ten days. In the time being, international petroleum prices, which had been steadily rising in the first two weeks of October, have flattened out somewhat, which is encouraging.”
Despite this improved stability, consumers should still expect hikes at the pumps next month, the AA warned. Petrol is set to rise by around 45 cents a litre, diesel by 64 cents and illuminating paraffin by 57 cents.
“This is in line with our mid-month expectations. However, we once again urge organs of government to exercise the utmost caution in dealing with economically sensitive issues which can severely impact on working-class citizens,” the Association added.
