Guiding consumers since 2009

Fuel price hike expected in January

By Jessica Anne Wood

According to the Automobile Association of South Africa (AA), motorists can expect to pay more for fuel in the New Year. This follows from a review of the unaudited mid-month fuel price data from the Central Energy Fund (CEF).

The first few weeks of December have shown a strong increase in oil prices, while the Rand has remained volatile against the US dollar. “Based on the current data, the indicative increase in fuel prices at the end of December will be around 27 cents a litre for petrol, 21 cents for diesel and 28 cents for illuminating paraffin,” said the AA.

However, Saudi Arabia has indicated that proposed oil production cuts may exceed those mentioned in November. The AA warned that the impact of production cuts was not factored into the current oil prices.

“If the oil-producing countries adhere to the proposed production cuts, oil prices are likely to strengthen until demand and production move back into equilibrium,” stated the AA.

The AA has advised private motorists to review their energy use and commuting patterns, as well as to consider alternatives to single-occupant vehicle use. This can include car-pooling or making use of public transport.

“Mitigation will be the key strategy against prolonged fuel price rises,” added the AA.

 

 Handy tip: Need car insurance? You can apply on Justmoney.

Recent Articles

Featured How are you taxed on your retrenchment package?

Unemployment is one of the biggest problems in South Africa. The emergence of the Covid-19 pandemic has exacerbated the situation with a lot of companies retrenching their employees.  When retrenched, you’ll receive a retrenchment package, but do you know how much tax you’re liable for?

Car repossessed – don’t be taken for a ride

When the country is facing an economic downturn, chances are your finances will feel the pinch. This can lead you to make bad financial decisions such as skipping your vehicle payments. But every decision has consequences and if you don’t pay your instalment, the bank will repossess your car. But what can you do when this happens?

 

Why you should consider gap cover

Your medical aid should protect you from incurring large medical bills when you’re sick. But what if your plan doesn’t cover the full cost of your medical expenses? We got in touch with insurance experts to find out whether gap cover is worth having.

Debt relief - What is your bank offering?

Going through a financial crisis is stressful whether it be as a result of losing your job, being short-paid, having to fork out towards an emergency payment, or finding yourself in the midst of a global pandemic. This is especially taxing if you have a debt to service. It is against this backdrop that banks are increasingly offering payment holidays. Justmoney looks at the various debt relief options available to you from the big five banks.

Deals

Premier Hotel and Resorts Special For Senior Citizens

Price: Available on request
When: Daily
Where: Nationwide

The President hotel 10% discount for locals

Price: Available on request
When: Until 31 October 2020
Where: Cape Town

Get 40% off when you book your stay at Colosseum Hotel

Price: Available on request
When: Until 13 December
Where: Cape Town


Latest Guide

Guide to debt rehabilitation solutions