Fuel increase possible warns the AA
This is as a rest of the weaker Rand to Dollar exchange rate. "All fuel types are showing the same picture: the benefit of lower oil prices is being offset by a weaker exchange rate. The nett result is that the mid-month picture shows only small changes in fuel prices where they might otherwise have been considerably lower," noted the AA.
According to the AA, unleaded 93 petrol had dropped by almost 21 cents a litre at mid-month, however, the exchange rate increased by nearly 23 cents, which means consumers could face a potential increase of two cents per litre at the pumps.
Diesel may see an increase of between one and three cents per litre according to the current data, while illuminating paraffin could go up by as much as five cents per litre.
"Unleaded 95 is the only gainer, with the current data showing a drop of three cents a litre versus a potential drop of 26 cents had the exchange rate remained steady," stated the AA.
"If Rand weakness continues to outstrip oil price gains, motorists will be paying more for fuel in December," said the AA.
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South Africa’s volatile economy has often meant that factors like the fuel price bear the brunt. This year alone the country’s fuel price has fluctuated by between R1.50 to almost R3, which has put increasing pressure on motorists. That said, many of the bigger South African brands have provided some relief by way of fuel rewards programmes.
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