South Africa
Petrol price up as AA warns of further fuel hikes

The Department of Energy has announced that a litre of 95 octane petrol will cost R 13.52 at the coast from Wednesday.

The price of a litre of 93 octane petrol will be increasing by 25c, while a litre of 95 octane will go up by 29c.

A litre of diesel, meanwhile, will cost R 11.74 at the coast.

The price of illuminating paraffin will rise by 39c/litre, meaning that a litre of paraffin will now cost R 7.71.

The Central Energy Fund attributed the fuel price hikes to rising global prices for petrol and diesel.

This follows increases of 19c and 67c a litre for all grades of petrol in August and September respectively. In July motorists paid 69c less on a litre of petrol.

The Automobile Association (AA) predicted last week that fuel prices would go up, given stronger international oil prices and a weakening rand.

The rand was trading as high as R 13.66/$ on Monday morning, while Brent crude traded at $51.45 a barrel.

“The first half of September saw the rand appreciate against the US dollar, but this trend has been reversed since September 12, with the weaker currency eating into its earlier gains,” the AA said in a statement.

“The current rand trend is strongly weaker, and we expect it to have an even bigger impact on fuel users in the medium term.”

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