October fuel price outlook improves, hike still on the cards
The Automobile Association says motorists can expect yet another fuel price increase in October.
The association says the unaudited data from the Central Energy Fund (CEF) points to fuel price hikes for all fuel grades.
Diesel prices will increase for the fourth consecutive month when fuel prices for October are officially adjusted next Wednesday.
According to the data, the AA forecasts a hike of 75 to 80 cents a litre for both grades of petrol.
Diesel is expected to increase by around R1.60 per litre.
Illuminating paraffin is set to increase also by around R1.50c per litre.
The increases come at a time when most consumers are already feeling extreme financial pressure.
Spokesperson Layton Beared says petrol and illuminating paraffin prices will be increasing for the third consecutive month.
“As was the case with the previous increases, these latest significant adjustments are mainly attributable to rising international oil prices. While the weaker rand/US dollar exchange is also playing a role in the hikes for all fuels, its contribution is less substantial than the international product prices.
"Based on the current numbers, ULP95 petrol in Gauteng will rise above R25/l and at the coast above R24/l for the first time since August last year."
ALSO READ:
