Fuel prices will rise significantly in January according to unaudited month-end fuel price data released by the Central Energy Fund.
Petrol is set to rise by up to 43 cents a litre, and diesel and illuminating paraffin by 55 cents a litre.
Commenting on the fuel price data, the Automobile Association of South Africa said that not even the Rand’s strong advance against the US dollar could contain oil's march back towards its pre-COVID-19 price levels.
It said the ultimate outcome is steep increases across the board.
International oil prices have stabilized over the past few days, but the AA says it is too early to tell whether this is a new plateau, or an expected pullback as trading activity declined over the Christmas weekend.
The AA cautioned that the trend up to December 17 was quite markedly upward, and if that picks up more steam in the new year, it won't bode well for fuel prices in 2021.
