The Automobile Association is predicting a hefty fuel price increase at the end of November.
In a statement on Wednesday, the AA said that unaudited mid-month fuel price data released by the Central Energy Fund (CEF), it is predicting a 74c a litre rise in the price of petrol, 63c for diesel and 75 cents a litre increase for illuminating paraffin.
"The Rand is testing one-year lows against the US dollar," the Association says. "In addition, there have been heavy increases in international oil prices," the AA said in a statement.
The AA also cautioned that the picture may worsen before the end of the month.
"We cannot ignore signs that South Africa may face a further round of downgrades by rating agencies, possibly even before December," the Association comments.
"Concerns over government's fiscal discipline are likely to continue weighing heavily on the Rand, and if these factors combine with continued oil strength, South Africans will face heavy fuel price hikes for the remainder of 2017 and into early 2018," the AA concludes.
