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South African fuel users are set to be hit with yet more steep price hikes going into March.
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 says that although the Rand performed well against the US dollar during February, gaining around 14 cents, it was far below what was needed to offset the climb in oil.
As a result, fuel users can expect to see petrol rise by around 66 cents a litre next month, diesel up by 57 cents, and illuminating paraffin up by 49 cents.
The AA notes that the international oil price seems unstoppable at the moment and is on an eight-week streak of price climbs with no sign yet of a ceiling.
The Association also reminded consumers that looking further ahead, April will already start with a significant addition of 26 cents a litre to fuel prices because of increases to the General Fuel and Road Accident Fund levies announced in Wednesday’s budget.
