SOUTH AFRICA - Durban - 02 April 2019 South African motorists rush to fill up their cars before midnight as they will be paying significantly more to fill up their cars from Wednesday (3 April). Energy minister, Jeff Radebe has announced the adjustment of fuel prices for April 2019, with motorists to be hit hard as a result of rising global oil prices, a weaker rand and the introduction of new fuel taxes. This picture it was take in BP garage in Phoenix, Durban. Picture: Motshwari Mofokeng/African News Agency(ANA)

In The News South Africa

AA warns of another petrol price increase on the cards

JOHANNESBURG, April 16 – The Automobile Association (AA) on Monday, said that the current data suggests that petrol may increase by 56 cents a litre at the end of April, while diesel is showing a reduction of five cents and illuminating paraffin down by a cent.

This will be the third straight increase to fuel prices this year if this increase comes to pass. At the beginning of this month.

The National African Federated Chamber of Commerce and Industry (Nafcoc) has already said that petrol has increased by almost R4 since January, which constitutes about a 12 percent increase.

The AA said that the international product price of diesel climbed somewhat in the first half of April, while petrol has made a substantial jump.

It said that the ground gained by the local currency has cushioned some of the blow, with diesel currently showing a slight decrease, but petrol users were in for a shock.

“Diesel’s smaller increase is likely due to variations in international refining capacity, as well as the approaching end of the Northern Hemisphere winter when demand for diesel fuels for use in peaking power plants and as a heating fuel diminishes,” it said.

“The rand has appreciated quite strongly against the US dollar since the end of March, with the daily exchange rate used for fuel price calculations rising from over R14.60 to the dollar on 31 March to under R14 currently.”

The AA said price stability in illuminating paraffin was welcome as South Africa heads into its own winter, during which many households will be using paraffin as a heating fuel, but the rise in petrol was cause for concern. (ANA)

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