All consumers will be severely impacted by fuel price increases – AA
As fuel costs rise the next week, the AA predicts that motorists will delve even further into their already overstretched wallets.
When rates for October are formally adjusted next Wednesday, diesel prices will rise for the fourth straight month.
The AA predicted that petrol and lighting paraffin prices will rise for a third straight month in response to unaudited fuel statistics from the Central Energy Fund.
Currently available data predicts that diesel will rise by about R1.60 per litre, while petrol would rise by between 75 and 80 cents per litre, depending on the grade. A further increase of R1.50/l is anticipated for illuminating paraffin.
“Like with the prior rises, the primary cause of these most recent large revisions is the rise in global oil prices. Although the weaker rand/US dollar exchange is also contributing to the increases in costs for all fuels, it is less significant than the increases in global product prices.
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For SA drivers, rising oil prices confirm their suspicions that there will be another gasoline price increase.
The outlook for fuel prices is better, but significant hikes are still expected in October.
Next week, economists predict significant price increases for fuel and diesel.
Uasa expressed disappointment with the minor inflation spike prior to the holiday season.
