Rand cushions fuel hikes

File: According to statistics from the Central Energy Fund the price of petrol should only increase by six cents per litre next month.

File: The Automobile Association is forecasting a massive drop in fuel prices next month.

Pixabay

JOHANNESBURG - The recovery in the value of the rand will cushion fuel price increases next month.

After the shock increase of R1 per litre for petrol and R1.24 for diesel, motorists were bracing themselves for another major hike in November.

READ: AA warns of another petrol hike

But, the rand has been strengthening in recent weeks, which has almost neutralised the effect of higher oil prices.

According to statistics from the Central Energy Fund the price of petrol should only increase by six cents per litre next month.

The news for diesel users is less rosy, as they may have to pay around 40 cents more per litre.