Fuel prices will jump to record highs in June‚ says the Automobile Association (AA).
Petrol is expected to rise by up to 85 cents a litre‚ diesel by 87 cents‚ and illuminating paraffin by 82 cents‚ the consumer organisation predicted on Thursday.
Commenting on unaudited month-end fuel data released by the Central Energy Fund (CEF)‚ the AA commented: “The rand traded in a fairly narrow band against the US dollar throughout May. However‚ international oil prices have come under strong pressure‚ accounting for two-thirds of the price rise which will come into effect next Wednesday‚ 6 June.”
The association said the price hike also included a large deficit carried over from April. It explained: “The Department of Energy’s monthly close-out happened early due to the public holidays in April‚ after which the rand lost almost 60 cents against the US dollar in a matter of a day. This meant a substantial fuel price rise was a near-certainty from the start of May.”
Petrol shock forecast for June
Fuel prices will jump to record highs in June‚ says the Automobile Association (AA).
Petrol is expected to rise by up to 85 cents a litre‚ diesel by 87 cents‚ and illuminating paraffin by 82 cents‚ the consumer organisation predicted on Thursday.
Commenting on unaudited month-end fuel data released by the Central Energy Fund (CEF)‚ the AA commented: “The rand traded in a fairly narrow band against the US dollar throughout May. However‚ international oil prices have come under strong pressure‚ accounting for two-thirds of the price rise which will come into effect next Wednesday‚ 6 June.”
The association said the price hike also included a large deficit carried over from April. It explained: “The Department of Energy’s monthly close-out happened early due to the public holidays in April‚ after which the rand lost almost 60 cents against the US dollar in a matter of a day. This meant a substantial fuel price rise was a near-certainty from the start of May.”