JOHANNESBURG - South African motorists are likely to face a small increase in the prices of all fuels except 95 Octane petrol, the Automobile Association predicts.
Commenting on mid-month fuel price data released by the Central Energy Fund, the AA said that should current trends persist, the price of 95 Octane Unleaded petrol should drop by about eight cents a litre at the beginning of February, while 93 Octane will rise by one cent a litre. This will narrow the price gap between the two grades of petrol in the inland regions, where 93 currently sells for R15.84 a litre and 95 for R16.16. 95 ULP is the only grade available at the coast, where it costs R15.52.
Diesel looks set for a 13 cents a litre hike for both grades, from the first Wednesday of February.
However, given the recent volatility in both the South African currency and the international crude oil market, it is becoming increasingly difficult to predict where fuel prices are heading.
"International oil prices surged by nearly two dollars a gallon in late December 2019 before beginning a recovery which was halted by the recent tensions between the USA and Iran" the AA said.