AA expects fuel price increase in October
The Automobile Association (AA) said on Thursday South Africa's recent period of fuel price reductions is set to come to an end, due the weakening Rand and a higher international oil price.
"The Rand's slow, steady appreciation against the US dollar during July and August was dealt a considerable setback by the controversy surrounding the Hawks' investigation of Finance Minister, Pravin Gordhan," the AA said.
According to the AA, international petroleum prices began to appreciate at the same time.
"While diesel and illuminating paraffin are currently showing increases of around 24 cents per litre, the current data on petrol shows the hike is likely to be around 51 cents," the AA said.
The association said the fuel price move at the end of September will depend largely on international petroleum prices.
"Any significant international event which leads to further oil price strength is almost certain to be bad news at the pumps for South Africans."