Share

Motorists warned to brace for more petrol pain

Cape Town - The Automobile Association on Monday warned motorists to brace for another hike in fuel prices at the end of January.

Commenting on unaudited mid-month fuel price data released by the Central Energy Fund (CEF), the AA said the the rand/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 is predicting that petrol is set to jump by 44 cents, diesel by 37c, and illuminating paraffin by 31c.

By midday on Monday, the rand was trading at R13.62/$ and oil was selling at $55.64 a barrel.

The retail price of petrol (93 octane) increased by 50 cents per litre and that of 95 octane by 48c/l on January 4 2017.

The wholesale price of diesel (0.05% sulphur and 0.005% sulphur) also increased by 39c/l and 39c/l respectively, while the wholesale price of illuminating paraffin went up by 43c/l.

"There is always the hope that the spike in international oil prices will not persist, but that seems unlikely," the association said.

"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 warned.

Read Fin24's top stories trending on Twitter:

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.92
+0.1%
Rand - Pound
24.02
+0.4%
Rand - Euro
20.53
+0.3%
Rand - Aus dollar
12.33
+0.7%
Rand - Yen
0.13
+1.1%
Platinum
897.05
-0.6%
Palladium
997.25
-0.9%
Gold
2,154.19
-0.3%
Silver
24.89
-0.6%
Brent Crude
86.89
+1.8%
Top 40
65,784
-0.7%
All Share
72,007
-0.6%
Resource 10
52,906
-0.8%
Industrial 25
99,553
-0.9%
Financial 15
16,591
-0.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders