Another fuel price hike expected in October

JOHANNESBURG - Another steep petrol price hike may be on the cards for October.

The Central Energy Fund says a weaker rand and higher international oil prices led to more than a rand under-recovery for all grades of fuel in the first 10 days of September.

READ: Fuel prices to remain unchanged: Radebe

But economists say if the rand continues its strengthening streak the hike may not be as harsh as expected.

Rising fuel prices have already become a key political issue after a number of increases in recent months.

Energy minister Jeff Radebe intervened in August to cap September’s increase at 5c.

READ: Fuel price hikes: Radebe tells MPs government's hands are tied

As opposed to an increase of between 25c and 28c.

But government says the intervention will not be repeated.

Source
eNCA