Another fuel price hike likely in March
The Automobile Association (AA) is predicting a steeper increase in the price of petrol than 7 cents per litre hike in February.
The AA says mid-month data shows a steady rise in the international oil price will more than likely lead to a hike in the prices of petrol and diesel in March.
"Oil traded within a very tight band for most of January, but we have seen a steady uptick since February began. This trend has accelerated in the last week in particular," the AA says in a statement.
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To makes matters worse, the rand has also weakened against the US dollar since the beginning of February.
The AA says, as things stand currently, the price of petrol will go up 43 cents a litre, diesel by 62 cents a litre, while illuminating paraffin will be 47 cents more expensive.
"If the trendlines for oil and the rand don't flatten out, there could be worse to come before month end," the company warns.
It has urged motorists to factor in higher fuel prices into next month’s household budget.