Faizel Patel – 15/12/2020
The Automobile Association (AA)has warned of hefty fuel price increases at the beginning of the new year.
The AA’s Layton Beard was commenting on unaudited mid-month fuel price data released by the Central Energy Fund (CEF).
Speaking to Radio Islam, Beard says while the Rand has performed well against the US Dollar, international petroleum price have increased and spiked significantly over the past couple of weeks.
“It’s this spiking of the oil price that is leading the AA to predict that we are looking at a hefty fuel increase going into January 2021. At this stage we are predicting petrol up by around thirty-four cents and diesel and illuminating paraffin up by around 52 cents.”
Beard says oil prices remain volatile.
“Now it is the middle of the month and this picture may change, but I think the message still is that we are in for quite significant increases as we go into the new year. Unless the oil prices deceases significantly, I think it could be a trend at least for the first couple of months of the new year.”
Meanwhile, the United Association of South Africa (UASA) says the increase in the fuel price that is expected to hit consumers in January doubles as a warning that South Africans must budget carefully during the festive season.
0 Comments