The Automobile Association has described the current fuel price outlook as “a mixed bag”, explaining that unaudited mid-month fuel price data released by the Central Energy Fund has revealed a “stand-off” between rising international petroleum prices and a stronger rand.
“In the first half of February, international petroleum prices increased by the equivalent of ten to twelve cents a litre, while the rand firmed by about seven cents against the US dollar,” the AA said in a statement.
“As a result, the current data suggests a very modest fuel price increase of between three and four cents a litre for vehicle fuels, and a drop of around three cents a litre for illuminating paraffin,” it added.
The Association went on to warn that any sudden spike in oil prices or move in the rand could change the situation suddenly.
“Under the circumstances, it would be speculative to pronounce on what the fuel price picture is likely to be at month end,” the AA concluded.
