AA predicts massive fuel hike

File: The AA is forecasting that petrol will be increasing by around R1.73 a litre and diesel by R1.74.

File: The price at the pumps for 95 octane petrol in Gauteng is now R15.17/a litre.

Unsplash/chuttersnap

JOHANNESBURG - Massive fuel hikes are set to hit consumers next week as the oil price recovers.

The Automobile Association is forecasting that petrol will be increasing by around R1.73 a litre, diesel by R1.74 and illuminating paraffin by a massive R2.14 when fuel prices are adjusted next week.

READ: Brace for petrol price increase, AA warns

The massive hikes will be a huge blow to citizens who use paraffin for cooking, lighting and especially heating during winter.

International crude oil prices have continued to increase and unfortunately, the stronger rand has not strengthened enough to buffer consumers from the hike.

The association highlights that if the local unit had remained at its pre-COVID-19 levels there would have been another price drop of around 75 cents a litre next week.

Source
eNCA