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Diesel, petrol, and illuminating paraffin prices in South Africa are expected to increase in October for the fourth and third consecutive months respectively, according to unaudited fuel data from the Central Energy Fund (CEF). The Automobile Association (AA) anticipates diesel to increase by around R1.60/liter, petrol by between 75c/l and 80c/l based on the grade, and illuminating paraffin by more than R1.50/l.
The AA attributes these significant adjustments primarily to rising international oil prices. While the weaker Rand/US Dollar exchange rate also contributes to the hikes, its impact is less substantial than international product prices.
For the first time since August of the previous year, ULP95 petrol in Gauteng is projected to rise above R25/l and above R24/l at the coast. The AA expressed concern over the government’s silence regarding any plans to address these increases more effectively.
In light of these impending fuel price hikes, the AA advises motorists to keep their vehicles in optimal mechanical condition and their tires inflated to the manufacturer’s specifications for efficient fuel usage. They also encourage motorists to minimize trips where possible, use air conditioners sparingly, and avoid overloading vehicles to decrease fuel consumption.
As many people start planning their end-of-year vacations, the AA urges proper budgeting for fuel expenses now and including extra funds to offset potential additional increases that may occur in November and December.
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Source: Investing.com
