Brace for yet another fuel hike

South Africans, especially the poor and middle class citizens, should brace for an even greater economical pinch with fuel prices set to rise yet again at the end of this month.
This according to the Automobile Association (AA), commenting on unaudited mid-month fuel price data released by the Central Energy Fund (CEF).
The AA predicts the price of petrol to climb by 44 cents, diesel by 37 cents, and illuminating paraffin by 31 cents. The AA says the Rand and US Dollar exchange rate has firmed slightly since the start of January 2017, but international oil prices have surged ahead by a far greater margin.
The AA added there is always the hope that the spike in international oil prices will not persist, but it seems unlikely.

South Africans should already be thinking of trimming any unnecessary expenses to accommodate a series of fuel price hikes which seem likely in the medium term, the AA advised.


Roelof de Jonge

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