Fuel prices are set for a significant spike when the price for February is adjusted next week.
This is according to the Automobile Association (AA), which was commenting on unaudited month-end fuel price data released by the Central Energy Fund.
The Association expects petrol to rise by up to 82 cents a litre, diesel by 59 cents, and illuminating paraffin by 60 cents.
It cautions that South Africans are once again vulnerable to Rand weakness against the US dollar.
The AA says there has been a slow, but steady, rise in the price of oil which is likely to cause ongoing pain at the pumps while the average Rand/US dollar exchange rate has remained generally flat for the month, despite some large daily swings.
The Association concluded that economic or policy shocks which weigh on the Rand are likely to have a more significant effect on the fuel price now that international oil prices have rebounded.
