Record high fuel price hike on the cards
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South Africans are being warned to brace themselves for some record breaking hefty fuel price hikes come end of October. The Automobile Association (AA) recently released its latest predictions for fuel price adjustments for this period describing it as “catastrophic” for citizens.
AA spokesperson, Layton Beard, says petrol may go up by 99 cents a litre, and diesel and illuminating paraffin may rise by a whopping R1.42 a litre. This will push 95 ULP inland above R19/l (close to R19.30/l), and R17/l for diesel. “Taking this potential increase into account, the price of a litre of fuel inland (95 ULP) will have increased from R14.86/l in January to R19.30/l in November – a 30% increase over 11 months” says Beard.
Now the association attributes their predictions to brent crude breaking through the 85 US dollars per barrel mark. Bear in mind that these figures are based on half a month's data, and are subject to changes come end of October. The OFM Business Hour will keep an eye out on this development.
AA spokesperson, Layton Beard, says petrol may go up by 99 cents a litre, and diesel and illuminating paraffin may rise by a whopping R1.42 a litre. This will push 95 ULP inland above R19/l (close to R19.30/l), and R17/l for diesel. “Taking this potential increase into account, the price of a litre of fuel inland (95 ULP) will have increased from R14.86/l in January to R19.30/l in November – a 30% increase over 11 months” says Beard.
Now the association attributes their predictions to brent crude breaking through the 85 US dollars per barrel mark. Bear in mind that these figures are based on half a month's data, and are subject to changes come end of October. The OFM Business Hour will keep an eye out on this development.
