CAPE TOWN – More fuel price hikes are on their way courtesy of a weaker rand.
This was according to the Automobile Association (AA) which was commenting on unaudited month-end fuel price data supplied by the Central Energy Fund (CEF).
"International petroleum prices remained virtually unchanged on average during August," the Association said. “But the rand lost substantial ground against the US dollar, increasing the landed price of fuels."
Petrol is expected to increase by between 23c and 25c a litre, with diesel rising by about 28c and illuminating paraffin by 17c a litre.
“This will, for the first time, push the cost of 93 unleaded octane fuel inland above the R16-a-litre mark, a significant barrier,” the AA said.